Bennouri, Moez; Gimpel, Henner; Robert, Jacques - In: Journal of Economic Behavior & Organization 78 (2011) 3, pp. 302-318
Abstract This paper measures the effectiveness of market-based and cheap-talk information aggregation. Both information aggregation mechanisms (IAMs) are frequently used prior to IPOs and sales of Treasury bonds - it is largely acknowledged that they provide agents with useful information for...