This study tests whether disclosing a trader's identity dampens or stimulates subsequent trading volume based on the trader's reputation for being informed. While a reputation for being informed makes markets less liquid, thus inhibiting subsequent trade ("illiquidity effect"), the information...

I Introduction -- II The Factory “Nederland” -- III Bullion and Money -- IV Pepper -- V Spices -- VI Raw Silk -- VII Piece-Goods -- VIII Sugar -- IX Japanese Copper -- X Coffee -- XI Tea -- XII Profit and Loss -- Appendices -- A The Invoice Material -- B The Material Concerning the Public...

Where the last century saw the dismantling of barriers to trade in goods, the new century will see the dismantling of barriers to trade in services. Once theorized as nontradable, services now join goods in a global marketplace powered by advances in communications technology. Today, an...

Main description: In the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. The problem, Roman Frydman and Michael Goldberg argue, is that both the rational and behavioral theories of the market rest...