Market Efficiency and Real Efficiency: The Connect and Disconnect via Feedback Effects
作者： Itay Goldstein , Liyan Yang
DOI: 10.2139/SSRN.2378120
关键词:
摘要: … Our analysis suggests that although providing traders with more information tends to improve market efficiency, it may reduce real efficiency, depending on the type of information being …
ucdavis.edu
sci-hub.st 参考文章(51)
Itay Goldstein, Liyan Yang, Information Diversity and Market Efficiency Spirals Research Papers in Economics. ,(2012)
Sanford J. Grossman, Sanford J. Grossman, On the Impossibility of Informationally Efficient Markets Social Science Research Network. ,(1980)
Mirko Stanislav Heinle, Chong Huang, Alex Edmans, Alex Edmans, The Real Costs of Disclosure Social Science Research Network. ,(2013)
PINGYANG GAO, PIERRE JINGHONG LIANG, Informational Feedback, Adverse Selection, and Optimal Disclosure Policy Journal of Accounting Research. ,vol. 51, pp. 1133- 1158 ,(2013) , 10.1111/1475-679X.12019
Maureen O'Hara, Market microstructure theory ,(1995)
Keith C. Brown, W.V. Harlow, Seha M. Tinic, Risk aversion, uncertain information, and market efficiency Journal of Financial Economics. ,vol. 22, pp. 355- 385 ,(1988) , 10.1016/0304-405X(88)90075-X
F HAYEK, The use of knowledge in society Social Science Research Network. pp. 7- 15 ,(1996) , 10.1016/B978-0-7506-9749-1.50005-3
KENNETH A. FROOT, DAVID S. SCHARFSTEIN, JEREMY C. STEIN, Herd on the Street: Informational Inefficiencies in a Market with Short‐Term Speculation Journal of Finance. ,vol. 47, pp. 1461- 1484 ,(1992) , 10.1111/J.1540-6261.1992.TB04665.X
Bengt Holmström, Jean Tirole, Market Liquidity and Performance Monitoring Journal of Political Economy. ,vol. 101, pp. 678- 709 ,(1993) , 10.1086/261893
Péter Kondor, The More We Know on the Fundamental, the Less We Agree on the Price Social Science Research Network. ,(2011)