Information and Capital Markets
收藏NBER1981-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w0678
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资源简介：
This paper provides the foundations of a general theory of information and the capital market. We show that in a pure gambling market, even with asymmetric information, there cannot exist an equilibrium with trade with rational individuals. We argue that although a pure exchange stock market is not
提供机构：
美国国家经济研究局
创建时间：
1981-05-01
