Making money out of publicly available information

Making money out of publicly available information

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It is received financial wisdom that when there is free entry by speculators, it is impossible to generate net profits on publicly available information. In this paper we study a version of the standard Kyle (85) model with endogenous information acquisition and we find that equilibria exist with fr...

書誌詳細
主要な著者:	Morrison, A, Vulkan, N
フォーマット:	Working paper
出版事項:	University of Oxford 2003

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