Title of article
Making money out of publicly available information
Author/Authors
Alan D. Morrison، نويسنده , , Nir Vulkan، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2005
Pages
8
From page
31
To page
38
Abstract
We study a version of the standard Kyle (85) model with endogenous information acquisition and we find that equilibria exist with free entry in which speculators make positive profits. Moreover, these equilibria are robust.
Keywords
Market maker model , Beliefs , Information accquisition
Journal title
Economics Letters
Serial Year
2005
Journal title
Economics Letters
Record number
435766
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