The Trader, the Market Maker, his Guru and her Information

Nicolas Melissas ()

No 702, Working Papers from Centro de Investigacion Economica, ITAM

Abstract: This paper argues that a guru possessing a multi-dimensional informational advantage may want to truthfully report her opinion to the media to learn more out of the actions of other, sometimes better-informed traders.

Keywords: Market Microstructure; Stock-Price Manipulation; Cheap Talk; Asymmetric Information. (search for similar items in EconPapers)
JEL-codes: D82 D83 D84 G12 G14 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mst
Date: 2007-01
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http://ftp.itam.mx/pub/academico/inves/melissas/07-02.pdf First version, 2007 (application/pdf)

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Persistent link: http://EconPapers.repec.org/RePEc:cie:wpaper:0702

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