subject to a private information problem. The asset plays the role of a medium of exchange, but this role can be affected by … information, a set of experiments with adverse selection where the terminal value of notes are determined exogenously, and a set …

subject to a private information problem. The asset plays the role of a medium of exchange, but this role can be affected by … information, a set of experiments with adverse selection where the terminal value of notes are determined exogenously, and a set …

available for borrowing, mutual funds acquire information about short selling, which they exploit for trading. Funds with … lower lending fees than passive funds, consistent with funds paying for the information with lower fees …

bounds for both covariances and correlations and show how such bounds can be tightened using information beyond the …

subject to a private information problem. The asset plays the role of a medium of exchange, but this role can be affected by … information, a set of experiments with adverse selection where the terminal value of notes are determined exogenously, and a set …

dynamics. The information – delivered by financial intermediaries as rating agencies and considered as a cognitive institution …The paper presents an artificial financial market designed to analyse market dynamics from the behaviour of investors … environment. We demonstrate that the cognitive institution influences market dynamics as it allows the co-ordination of the …