On “Acquisition of information in Financial Markets
Journal article: In their paper "Information Acquisition in Financial Markets" (this journal, 2000), Barlevy and Veronesi present a model of a one-period financial market, and claim that for an open set of parameter values, the value of information increases with the mass of informed agents. That claim is shown here to be false. The property of strategic substitution is robust in their model.
Author(s)
Christophe Chamley
Journal
- Review of Economic Studies
Date of publication
- 2008
Keywords JEL
Pages
- 1081-1084
URL of the HAL notice
Version
- 1
Volume
- 75