Private Information and Sunspots in Sequential Asset Markets
收藏NBER2014-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w20044
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资源简介：
We study a model where some agents have private information about risky asset returns and trade to obtain capital gains, while others acquire the risky asset and hold it to maturity, forming expectations of returns based on market prices. We show that under such a structure, in addition to fully
提供机构：
美国国家经济研究局
创建时间：
2014-04-01
