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This study investigates the behaviour of the components of the bid-ask spread around earnings announcements. We find that adverse selection cost component significantly increases surrounding the announcements while the inventory holding and order processing components significantly decline...
Persistent link: https://www.econbiz.de/10005635314
are uncertain about preferences but with effort may narrow their uncertainty. This issue has arisen in formulating bids in … theoretical model and experimental evidence to contribute to this debate. The model is a model of competitive bidding for a … of their own value for the private good but may purchase information about their own value (researching preferences). The …
Persistent link: https://www.econbiz.de/10005684454
Persistent link: https://www.econbiz.de/10008673880
NYSE stocks in two partitioned samples, with and without identifiable public news. We argue that the sequential information … public information as hypothesized by the SIAH. Our analysis further suggests that return volatility is higher in the periods … private information for trading stocks. Using the sample without public news, we find evidence that volume Granger …
Persistent link: https://www.econbiz.de/10009448126
components and breeding values estimated from different amounts of information were compared for both models. The accuracy of … parents. When these data are combined with full pedigree information back to founding parents, computing limitations mean it … is not possible to obtain information on all parents. Family data from one sugarcane selection program were analysed …
Persistent link: https://www.econbiz.de/10009448819
This paper is concerned with the stategic use of a private information on the stock market. A repeated auction model is … used to analyze the evolution of the price system on a market with asymmetric information. The model turns out to be a zero …-sum repeated game with one-sided information, as introduced by Aumann and Maschler. …
Persistent link: https://www.econbiz.de/10005207634
We survey modern models of delegation which assume that a boss and subordinate pursue their own goals. Among the major … prefer to retain authority; the ways in which a boss can induce a subordinate to truthfully reveal information; when rational …
Persistent link: https://www.econbiz.de/10005780888
Persistent link: https://www.econbiz.de/10005795308
This paper systematically analyzes and enriches the observational learning paradigm of Banerjee (1992) and Bikhchandani, Hirshleifer, and Welch (1992).
Persistent link: https://www.econbiz.de/10005687576
Persistent link: https://www.econbiz.de/10005616551