Autore
Palomino, Frédéric

Titolo
Informed speculation: small markets against large markets
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1993 - Fascicolo: 8 - Pagina iniziale: 1 - Pagina finale: 26

Informed speculation has become a popular area of research in Economics. However, the main part of the existing literature focuses on the amount of information revealed by price. In this paper, we will try to derive some properties of informed traders' welfare in imperfectly competitive markets. Two cases will be studied: a market with both heterogeneously informed speculators and noise traders and a purely speculative market. A discussion on the possible existence of several informationally isolated small markets will follow.



Testo completo: http://hdl.handle.net/1814/449

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