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A simple model of useless speculation
Kemp, Murray C.; Sinn, Hans-Werner - 1990
Persistent link: https://www.econbiz.de/10000804157
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A simple model of privately profitable but socially useless speculation
Kemp, Murray C.; Sinn, Hans-Werner - In: The Japanese economic review : the journal of the … 51 (2000) 1, pp. 84-94
Siegel paradox with the theory of incomplete markets, we show that banning speculation by closing the forward market may … speculation in the forward market is profitable and stabilizes prices but is useless from a welfare point of view. Reconciling the …
Persistent link: https://www.econbiz.de/10001470366
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A simple model of useless speculation
Kemp, Murray C. - 1990
Persistent link: https://www.econbiz.de/10000801025
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A Simple Model of Useless Speculation
Kemp, Murray C.; Sinn, Hans-Werner - 2021
the theory of incomplete markets we show that banning speculation by closing the forward exchange market may increase … speculation is profitable and stabilizes prices, but is useless from a welfare point of view. Reconciling the Siegel paradox with …
Persistent link: https://www.econbiz.de/10013248256
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A Simple Model of Useless Speculation
Kemp, Murray C. - 1990
the theory of incomplete markets we show that banning speculation by closing the forward exchange market may increase … speculation is profitable and stabilizes prices, but is useless from a welfare point of view. Reconciling the Siegel paradox with …
Persistent link: https://www.econbiz.de/10012475504
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A Simple Model of Privately Profitable But Socially Useless Speculation
Kemp, Murray C.; Sinn, Hans-Werner - 2000
Siegel paradox with the theory of incomplete markets, we show that banning speculation by closing the forward market may … speculation in the forward market is profitable and stabilizes prices but is useless from a welfare point of view. Reconciling the …
Persistent link: https://www.econbiz.de/10014151154
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No-betting-pareto dominance
Gilboa, Itzhak; Samuelson, Larry; Schmeidler, David - In: Econometrica : journal of the Econometric Society, an … 82 (2014) 4, pp. 1405-1442
Persistent link: https://www.econbiz.de/10010506462
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Arthur Cecil Pigou on speculation : a Marshallian analysis of institutions and economic welfare
Stevens, Riko - 2021
Persistent link: https://www.econbiz.de/10012604442
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Information aggregation and equilibrium multiplicity
Angeletos, Marios (contributor); Werning, Iván (contributor) - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002119281
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A proof of the existence of speculative equilibria
Jackson, Matthew O. - In: Journal of economic theory 64 (1994) 1, pp. 221-233
Persistent link: https://www.econbiz.de/10001170724