The social value of expertise

Pablo Kurlat ()

No 303, 2013 Meeting Papers from Society for Economic Dynamics

Abstract: I study a model of trading under asymmetric information where traders may invest in the acquisition of skills that give them an informational advantage. I characterize conditions under which experts enhance of detract from market liquidity and study the socially efficient level of acquisition of expertise.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed013:303

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