Assеt Pricing undеr Asymmеtric Informаtion: Bubblеs, Crаshеs, Tеchnicаl Anаlysis, аnd Hеrding
Publisher: Οxford Univеrsity Prеss, USΑ
Number of Pages: 264
Published: 2001-03-29
List price: $84.99
Asset prices are driven by public news and information that is often dispersed among many market participants. These agents try to infer each other’s information by analyzing price processes. In the past two decades, theoretical research in financial economics has significantly advanced our understanding of the informational aspects of price processes. This book provides a detailed and up-to-date survey of this important body of literature. The book begins by demonstrating how to model asymmetric information and higher-order knowledge. It then contrasts competitive and strategic equil...