Add to ORKGA substantial literature addresses the negative eect on welfare of the release of information in a competitive market economy. We show that the value of information in this setting is typically positive if asset markets are suciently incomplete. More specically, for any competitive equilibrium of a generic economy, we can nd a ner information structure such that an allocation that is resource feasible and measurable with respect to this information ex- post Pareto dominates the given equilibrium allocation
We consider the market for a risky asset with heterogeneous valuations. Private information that age...
We compare rational expectations equilibria with different degrees of information revelation through...
Abstract: The famous no-trade result of Milgrom and Stokey [5] is often used to argue that in ongoin...
A substantial literature addresses the negative eect on welfare of the release of information in a c...
We study the value of information in a competitive economy in which agents trade in asset markets to...
We study the value of public information in competitive economies with incomplete markets. We show t...
∗We would like to thank Alex Citanna, Antonio Villanacci, and especially Atsushi Kajii and Tito Piet...
Abstract: In [Grossman and Stiglitz, 1980], it is argued that in a rational expectations setting the...
Most of the papers in this symposium were presented at a conference on the economics of information ...
Eckwert B, Zilcha I. The Value of Information in Production Economies. Journal of Economic Theory. 2...
Szczutkowski A. The Social Value of Income Information in a Model with Market Power and Endogenous V...
This paper analyzes competitive markets in which the characteristics of the commodities exchanged ar...
Cahier de Recherche du Groupe HEC Paris, n° 684We compare rational expectations equilibria with diff...
\documentstyle[portada,11pt]{article}This paper shows that the presence of private information in an...
We consider the market for a risky asset with heterogeneous valuations. Private information that age...
We compare rational expectations equilibria with different degrees of information revelation through...
Abstract: The famous no-trade result of Milgrom and Stokey [5] is often used to argue that in ongoin...
A substantial literature addresses the negative eect on welfare of the release of information in a c...
We study the value of information in a competitive economy in which agents trade in asset markets to...
We study the value of public information in competitive economies with incomplete markets. We show t...
∗We would like to thank Alex Citanna, Antonio Villanacci, and especially Atsushi Kajii and Tito Piet...
Abstract: In [Grossman and Stiglitz, 1980], it is argued that in a rational expectations setting the...
Most of the papers in this symposium were presented at a conference on the economics of information ...
Eckwert B, Zilcha I. The Value of Information in Production Economies. Journal of Economic Theory. 2...
Szczutkowski A. The Social Value of Income Information in a Model with Market Power and Endogenous V...
This paper analyzes competitive markets in which the characteristics of the commodities exchanged ar...
Cahier de Recherche du Groupe HEC Paris, n° 684We compare rational expectations equilibria with diff...
\documentstyle[portada,11pt]{article}This paper shows that the presence of private information in an...
We consider the market for a risky asset with heterogeneous valuations. Private information that age...
We compare rational expectations equilibria with different degrees of information revelation through...
Abstract: The famous no-trade result of Milgrom and Stokey [5] is often used to argue that in ongoin...