Details about David Easley

Access statistics for papers by David Easley.

Last updated 2013-02-04. Update your information in the RePEc Author Service.

Short-id: pea15

Working Papers

2009

1. Constructive Decision Theory
   Economics Series, Institute for Advanced Studies View citations (2)

2002

2. Time-Varying Arrival Rates of Informed and Uninformed Trades
   Finance, EconWPA View citations (6)
   See also Journal Article in Journal of Financial Econometrics (2008)

2001

3. If You're So Smart, Why Aren't You Rich? Belief Selection in Complete and Incomplete Markets
   Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University View citations (19)
   Also in Working Papers, Santa Fe Institute (2001) View citations (15)
   See also Journal Article in Econometrica (2006)

1998

4. Optimality and Natural Selection in Markets
   Working Papers, Santa Fe Institute
   Also in GE, Growth, Math methods, EconWPA (1998)
   See also Journal Article in Journal of Economic Theory (2002)

1995

5. Cream-Skimming or Profit-Sharing? The Curious Role of Purchased Order Flow
   Economics Working Papers, School of Economics and Management, University of Aarhus View citations (15)
   See also Journal Article in Journal of Finance (1996)

1994

6. Liquidity, Information and Infrequently Traded Stock
   Economics Working Papers, School of Economics and Management, University of Aarhus View citations (11)
   See also Journal Article in Journal of Finance (1996)

1993

7. Rational Expectations and Rational Learning
   Game Theory and Information, EconWPA View citations (14)

1983

8. A Theory of Price Formation and Exchange in Oral Auctions
   Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science
   Also in Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science (1981)

1979

9. Stochastic Equilibrium and Optimality with Rolling Plans
   Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science
   See also Journal Article in International Economic Review (1981)

1978

10. Expectations and Equilibrium with Incomplete Markets
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science
11. Optimal Policies and Steady-State Solutions for Inventory Problems with Markovian Uncertainty
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science

Undated

12. Theories of Price Formation and Exchange in Double Oral Auctions
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences View citations (10)

Journal Articles

2012

1. Flow Toxicity and Liquidity in a High-frequency World
   Review of Financial Studies, 2012, 25, (5), 1457-1493 View citations (1)

2011

2. The characteristics of informed trading: Implications for asset pricing
   Journal of Empirical Finance, 2011, 18, (5), 782-801 View citations (2)

2010

3. Factoring Information into Returns
   Journal of Financial and Quantitative Analysis, 2010, 45, (02), 293-309 View citations (11)
4. Heterogeneity, Selection, and Wealth Dynamics
   Annual Review of Economics, 2010, 2, (1), 425-450 View citations (1)
5. Liquidity and valuation in an uncertain world
   Journal of Financial Economics, 2010, 97, (1), 1-11 View citations (3)
6. Microstructure and Ambiguity
   Journal of Finance, 2010, 65, (5), 1817-1846 View citations (3)

2009

7. Ambiguity and Nonparticipation: The Role of Regulation
   Review of Financial Studies, 2009, 22, (5), 1817-1843 View citations (9)
8. The market organism: Long-run survival in markets with heterogeneous traders
   Journal of Economic Dynamics and Control, 2009, 33, (5), 1023-1035 View citations (3)
9. Trading networks with price-setting agents
   Games and Economic Behavior, 2009, 67, (1), 36-50 View citations (6)

2008

10. Time-Varying Arrival Rates of Informed and Uninformed Trades
    Journal of Financial Econometrics, 2008, 6, (2), 171-207 View citations (12)
    See also Working Paper (2002)

2006

11. If You're so Smart, why Aren't You Rich? Belief Selection in Complete and Incomplete Markets
    Econometrica, 2006, 74, (4), 929-966 View citations (3)
    See also Working Paper (2001)
12. Information, trade and incomplete markets
    Economic Theory, 2006, 29, (2), 379-394 View citations (8)

2005

13. Optimal guessing: Choice in complex environments
    Journal of Economic Theory, 2005, 124, (1), 1-21 View citations (1)

2004

14. Information and the Cost of Capital
    Journal of Finance, 2004, 59, (4), 1553-1583 View citations (116)

2002

15. Is Information Risk a Determinant of Asset Returns?
    Journal of Finance, 2002, 57, (5), 2185-2221 View citations (146)
16. Optimality and Natural Selection in Markets
    Journal of Economic Theory, 2002, 107, (1), 95-135 View citations (11)
    See also Working Paper (1998)

2001

17. How Stock Splits Affect Trading: A Microstructure Approach
    Journal of Financial and Quantitative Analysis, 2001, 36, (01), 25-51 View citations (23)

1999

18. Choice without Beliefs
    Econometrica, 1999, 67, (5), 1157-1184 View citations (12)

1998

19. Financial analysts and information-based trade
    Journal of Financial Markets, 1998, 1, (2), 175-201 View citations (32)
20. Option Volume and Stock Prices: Evidence on Where Informed Traders Trade
    Journal of Finance, 1998, 53, (2), 431-465 View citations (80)

1997

21. One Day in the Life of a Very Common Stock
    Review of Financial Studies, 1997, 10, (3), 805-35 View citations (96)

1996

22. Cream-Skimming or Profit-Sharing? The Curious Role of Purchased Order Flow
    Journal of Finance, 1996, 51, (3), 811-33 View citations (7)
    See also Working Paper (1995)
23. Liquidity, Information, and Infrequently Traded Stocks
    Journal of Finance, 1996, 51, (4), 1405-36 View citations (113)
    See also Working Paper (1994)

1994

24. Market Statistics and Technical Analysis: The Role of Volume
    Journal of Finance, 1994, 49, (1), 153-81 View citations (139)

1993

25. An Equilibrium Analysis of Fiscal Policy with Uncertainty and Incomplete Markets
    International Economic Review, 1993, 34, (4), 935-52 View citations (7)
26. Economic natural selection
    Economics Letters, 1993, 42, (2-3), 281-289 View citations (6)

1992

27. Adverse Selection and Large Trade Volume: The Implications for Market Efficiency
    Journal of Financial and Quantitative Analysis, 1992, 27, (02), 185-208 View citations (11)
28. Evolution and market behavior
    Journal of Economic Theory, 1992, 58, (1), 9-40 View citations (108)
29. Time and the Process of Security Price Adjustment
    Journal of Finance, 1992, 47, (2), 576-605 View citations (235)

1991

30. Order Form and Information in Securities Markets
    Journal of Finance, 1991, 46, (3), 905-27 View citations (16)

1990

31. Implementation of Walrasian expectations equilibria
    Journal of Economic Theory, 1990, 51, (1), 207-227 View citations (15)

1989

32. Optimal Learning with Endogenous Data
    International Economic Review, 1989, 30, (4), 963-78 View citations (4)

1988

33. Contracts and asymmetric information in the theory of the firm
    Journal of Economic Behavior & Organization, 1988, 9, (3), 229-246 View citations (1)
34. Controlling a Stochastic Process with Unknown Parameters
    Econometrica, 1988, 56, (5), 1045-64 View citations (28)

1987

35. Price, trade size, and information in securities markets
    Journal of Financial Economics, 1987, 19, (1), 69-90 View citations (233)

1985

36. An Equilibrium Analysis of Optimal Unemployment Insurance and Taxation
    The Quarterly Journal of Economics, 1985, 100, (5), 989-1010 View citations (6)
37. Preying for Time
    Journal of Industrial Economics, 1985, 33, (4), 445-60 View citations (2)

1984

38. Rational expectations equilibrium: An alternative approach
    Journal of Economic Theory, 1984, 34, (1), 116-129 View citations (8)

1983

39. Consensus Beliefs Equilibrium and Market Efficiency
    Journal of Finance, 1983, 38, (3), 903-11
40. The Economic Role of the Nonprofit Firm
    Bell Journal of Economics, 1983, 14, (2), 531-538 View citations (32)

1982

41. Characterization of optimal plans for stochastic dynamic programs
    Journal of Economic Theory, 1982, 28, (2), 221-234 View citations (22)
42. Introduction to the stability of rational expectations equilibrium
    Journal of Economic Theory, 1982, 26, (2), 313-317 View citations (27)
43. Learning to be rational
    Journal of Economic Theory, 1982, 26, (2), 340-351 View citations (31)

1981

44. Stochastic Equilibrium and Optimality with Rolling Plans
    International Economic Review, 1981, 22, (1), 79-103 View citations (7)
    See also Working Paper (1979)

1979

45. The Postal Savings System in the Depression
    The Journal of Economic History, 1979, 39, (03), 741-753 View citations (6)

Chapters

2003

1. Microstructure and asset pricing
   Chapter 17 in Handbook of the Economics of Finance, 2003, vol. 1, Part 2, pp 1021-1051 View citations (3)