Feedback Effects and the Limits to Arbitrage
收藏NBER2011-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w17582
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资源简介：
This paper identifies a limit to arbitrage that arises from the fact that a firm's fundamental value is endogenous to the act of exploiting the arbitrage. Trading on private information reveals this information to managers and helps them improve their real decisions, in turn enhancing fundamental
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美国国家经济研究局创建时间：
2011-11-01
