This paper determines the value of asset tradeability in an option pricing framework. In our model, tradeability is … the value of tradeability: The value of tradeability is the larger, the higher the pricing efficiency of the market is … information about the fundamental value of the stock. The value of tradeability is the larger, the longer the illiquid stock …

This paper determines the value of asset tradeability in an option pricing framework. In our model, tradeability is … the value of tradeability: The value of tradeability is the larger, the higher the pricing efficiency of the market is … information about the fundamental value of the stock. The value of tradeability is the larger, the longer the illiquid stock …

This paper determines the value of asset tradeability in an option pricing framework. In our model, tradeability is … value of tradeability: The value of tradeability is the larger, the higher the pricing efficiency of the market is …. Uncertainty increases the value of tradeability, no matter whether the uncertainty results from noise trading or from new …

This paper determines the value of asset tradeability in an option pricing framework. In our model, tradeability is … the value of tradeability: The value of tradeability is the larger, the higher the pricing efficiency of the market is … information about the fundamental value of the stock. The value of tradeability is the larger, the longer the illiquid stock …

This paper determines the value of asset tradeability in an option pricing framework. In our model, tradeability is … value of tradeability: The value of tradeability is the larger, the higher the pricing efficiency of the market is … information about the fundamental value of the stock. The value of tradeability is the larger, the longer the illiquid stock …