On the Possibility of Informationally Efficient Markets: Part b

A counter example to the Grossman and Stiglitz (1980) finding of the impossibility of informationally efficient markets is produced using discrete choice dynamics to govern the evolution of the trader population that choose between being informed or uninformed based on past performance.

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Year of publication:	2004-10
Authors:	Goldbaum, David
Institutions:	Department of Economics, Rutgers University-Newark
Subject:	Market Efficiency \| Learning \| Discrete Choice Dynamics

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Extent:	application/pdf
Series:	Working Papers Rutgers University, Newark.
Type of publication:	Book / Working Paper
Notes:	9 pages
Classification:	G14 - Information and Market Efficiency; Event Studies ; C62 - Existence and Stability Conditions of Equilibrium ; D83 - Search, Learning, Information and Knowledge
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005481875