The aim of the thesis is to investigate strategic trading under asymmetric information in particular financial markets. To this end, this thesis is organized into three essays. The first essay discusses market manipulation. In particular, it first focuses on its central role when interpreting...

In this paper, I identify and correct a set of problematic predictions in the existing theoretical literature on asset pricing with rumors. For example, unlike what is argued in the literature, I show that informative rumors are not profitable for all asset value distributions. Further, that for...

We model strategic trading by a rent-seeking insider, who exchanges without being spotted, and propose a comprehensive theory of market non-anonymity. Several novel results are established. They depend on asset value proprieties, beliefs, inter-temporal choices, and investors’ characteristics....