University of Alberta
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Long-held intuition dictates that information-based trade is impossible without exogenous noise. Risk seekers can resolve this conundrum. Even though such agents have...Show Previous Versions
Long-held intuition dictates that information-based trade without exogenous noise is impossible. Risk seekers can resolve this conundrum. Not only do...
We present a financial market with investors who have nested private information. Small perturbations of price informativeness, originating from fat-finger...
In dynamic financial markets the stochastic supply of risky assets has a significant informational role. Contrary to static models, where...