expectations equilibrium, information discovery property of market price. We demonstrate multiplicity of Pareto-improving pure …

. Resulting market price does not have information discovery properties. We demonstrate the multiplicity of Pareto-improving pure …

common beliefs of players about actions of each other, on existence of rational expectations, and on price discovery property … of the market, although the market is informationally efficient.Approximated price has unremovable instabilities …

ordinary price comparisons between different states, present and future, has stemmed from a focus on consumption as the sole … in all states, and price indeterminancy is thereby removed. All contracts issued in the financial markets can be … of proving existence in that setting, not merely in a generic sense and without normalizing to a price simplex or …

paper examines the relationship between sale rates and price surprises over time in art auctions. Using data on contemporary … strong positive relationship of sale rates to unexpected aggregate price changes, which is reminiscent of a Phillips curve … that sale rates revert to "normal" very quickly following a price surprise. We estimate an empirical model to measure …

paper examines the relationship between sale rates and price surprises over time in art auctions. Using data on contemporary … strong positive relationship of sale rates to unexpected aggregate price changes, which is reminiscent of a Phillips curve … that sale rates revert to "normal" very quickly following a price surprise. We estimate an empirical model to measure …