On “Acquisition of information in Financial Markets
Article dans une revue: 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.
Auteur(s)
Christophe Chamley
Revue
- Review of Economic Studies
Date de publication
- 2008
Mots-clés JEL
Pages
- 1081-1084
URL de la notice HAL
Version
- 1
Volume
- 75