Liquidity as Social Expertise

Pablo Kurlat ()

No 520, 2014 Meeting Papers from Society for Economic Dynamics

Abstract: I study a model of trading where publicly available information about assets has an unknown joint distribution with the quality of the underlying asset. Efficiency losses are a function of how well traders know this joint distribution, which can vary endogenous are traders learn from past trades.

Date: 2014
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Journal Article: Liquidity as Social Expertise (2018)
Working Paper: Liquidity as Social Expertise (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed014:520

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