Information Acquisition and Diffusion in Markets
نویسندگان
چکیده
منابع مشابه
Information Acquisition in Financial Markets: a Correction∗
This note provides a proper example for the channel of strategic complementarities we proposed in our 2000 paper "Information Acquisition in Financial Markets". As pointed out in Chamley (2007), our earlier example contained an error, which, once corrected, reveals that our example actually exhibits strategic substitutability in information acquisition. JEL Codes: G14, D82, D84 In our 2000 pape...
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This paper studies asset markets where Knightian uncertainty about the fundamentals can be mitigated through costly information acquisition. In these markets, investors' information choices can be strategic complements, resulting in multiple equilibria, history-dependent prices, and large price swings occurring after small changes in uncertainty. Our model predicts the typical market response t...
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This paper analyzes information acquisition in double auction markets and shows that for any finite information cost, if the number of traders and the units a trader is allowed to trade are sufficiently large, then an efficient equilibrium allocation fails to exist. For a large set of parameter values any equilibrium with positive volume of trade has the following properties. Ex ante identicall...
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Regulatory changes and technological advances have profoundly affected the competitive landscape of credit markets. In this paper, we investigate the role of information acquisition as a strategic tool for intermediaries to respond to competitive pressures. We specify a model in which the severity of asymmetric information between banks and borrowers varies with distance. Banks acquire borrower...
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This paper studies asset markets in which ambiguity averse investors face Knightian uncertainty about expected payo s. The same investors, however, might wish to resolve their uncertainty, although not risk, by just purchasing information. In these markets, uninformed and, hence, ambiguity averse, agents may coexist with informed agents, as a result of a rational information acquisition process...
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ژورنال
عنوان ژورنال: Social Science Research Network
سال: 2021
ISSN: ['1556-5068']
DOI: https://doi.org/10.2139/ssrn.3989974