Information economics and financial markets. Interpretation of Stiglitz’s thought

Royman Guao Samper ()
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Royman Guao Samper: M.Sc. en Contabilidad Internacional y de Gestión Mixta de la Universidad de Medellín. Consultor en Normas Internacionales de Información Financiera.

Economía, 2019, vol. 44, issue 47, 149-173

Abstract: Information is a determining factor for the decision making of economic agents, while the information economics has emerged as an alternative approach to study markets. This paper is aimed to analyze main basis of the information economics, based on the postulates of Stiglitz, in order to explain the mechanism under which financial markets operate empirically. Methodologically, the study was based on hermeneutics as a technique that bases the analysis of discourse. Main findings revealed the occurrence of problems of asymmetry and lack of transparency of information in financial markets, as well as the need to establish better regulatory mechanisms. Thus, by reducing both problems, regulation may contribute to generate greater stability in such markets.

Keywords: Asymmetric information; financial markets; information economics; transparency (search for similar items in EconPapers)
JEL-codes: D81 D82 G14 M40 M48 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ula:econom:v:44:y:2019:i:47:p:149-173

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