This paper studies the relationship between the amount of public information that stock market prices incorporate and the equilibrium behavior of market participants. The analysis is framed in a static, NREE setup where ...
This paper shows that information effects per se are not responsible for the Giffen goods anomaly affecting competitive traders demands in multi- asset, noisy rational expectations equilibrium models. The role that ...
I study a repeated buyer-seller relationship for the exchange of a given
good. Asymmetric information over the buyer's reservation price, which is
subject to random shocks, may lead the seller to use a rigid pricing ...
We argue that when stakeholder protection is left to the voluntary
initiative of managers, concessions to social activists and pressure
groups can turn into a self-entrenchment strategy for incumbent CEOs.
Stakeholders ...
