Huddart, Steven; Hughes, John S; Levine, Carolyn B - In: Econometrica 69 (2001) 3, pp. 665-81
Regulation requiring insiders to publicly disclose their stock trades after the fact complicates the trading decisions of informed, rent-seeking insiders. Given this requirement, we present an insider's equilibrium trading strategy in a multiperiod rational expectations framework. Relative to...