We develop a model of noisy rational expectations equilibrium in segmented markets. The noise emerges endogenously through intermarket effects rather than through exogenous supply noise from liquidity or naive trading as in standard noisy rational expectations equilibrium of the Hellwig type....

Although there have been conjectures about possible occurrences of Fibonacci numbers and golden means and ratios in financial statements (Feroz 1992), it is intriguing as to why managers should be reporting these rather stylized series of numbers the occurrences of which have hitherto been...

I: Introduction -- John E. Butterworth’s Pioneering Contributions to the Accounting and Information Economics Literature -- to the Research Papers in this Volume -- II: Information Evaluation in Multiperson Contexts -- 1. Blackwell Informativeness and Sufficient Statistics with Applications to...