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EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/46277
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Vives, Xavier | | en_US |
| dc.date.accessioned | | 2011-06-10 | | en_US |
| dc.date.accessioned | | 2011-06-29T11:14:37Z | | - |
| dc.date.available | | 2011-06-29T11:14:37Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/46277 | | - |
| dc.description.abstract | | This paper presents a market with asymmetric information where a privately revealing equilibrium obtains in a competitive framework and where incentives to acquire information are preserved. The equilibrium is efficient, and the paradoxes associated with fully revealing rational expectations equilibria are precluded without resorting to noise traders. The model admits a reinterpretation in which behavioral traders coexist with rational traders, and it allows us to characterize the amount of induced mispricing. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | CESifo München | | en_US |
| dc.relation.ispartofseries | | CESifo working paper: Industrial Organisation 3485 | | en_US |
| dc.subject.jel | | D82 | | en_US |
| dc.subject.jel | | D84 | | en_US |
| dc.subject.jel | | G14 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | adverse selection | | en_US |
| dc.subject.keyword | | information acquisition | | en_US |
| dc.subject.keyword | | double auction | | en_US |
| dc.subject.keyword | | multi-unit auctions | | en_US |
| dc.subject.keyword | | rate of convergence | | en_US |
| dc.subject.keyword | | behavioural traders | | en_US |
| dc.subject.keyword | | complementarities | | en_US |
| dc.subject.stw | | Marktmechanismus | | en_US |
| dc.subject.stw | | Rationale Erwartung | | en_US |
| dc.subject.stw | | Gleichgewicht | | en_US |
| dc.subject.stw | | Auktionstheorie | | en_US |
| dc.subject.stw | | Adverse Selection | | en_US |
| dc.subject.stw | | Informationsbeschaffung | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | A large-market rational expectations equilibrium model | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 661907937 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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