Making money out of publicly available information

We study a version of the standard Kyle (85) model with endogenous information acquisition and we find that equilibria exist with free entry in which speculators make positive profits. Moreover, these equilibria are robust.

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Year of publication:	2005-10
Authors:	Morrison, Alan ; Vulkan, Nir
Publisher:	Elsevier/North-Holland

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Type of publication:	Article
Language:	English
Notes:	Morrison, Alan and Vulkan, Nir (2005) Making money out of publicly available information. Economics Letters, 89 (1). pp. 31-38.
Other identifiers:	10.1016/j.econlet.2005.05.002 [DOI]
Source:	BASE

Persistent link: https://www.econbiz.de/10011423583