This paper considers a stylized market with heterogeneously informed traders which is a generalisation of the market described in Schredelseker (1999). The aim is to suggest some unusual points of view of more realistic markets that can lead to some interesting comments about the effects of variations of some parameters of the model, in particular the volatility of security's value and the level of transaction costs, on the expected gains of traders and of intermediation system.
A model for analyzing the effects of informational asymmetries of the traders
VANNUCCI, EMANUELE
2009-01-01
Abstract
This paper considers a stylized market with heterogeneously informed traders which is a generalisation of the market described in Schredelseker (1999). The aim is to suggest some unusual points of view of more realistic markets that can lead to some interesting comments about the effects of variations of some parameters of the model, in particular the volatility of security's value and the level of transaction costs, on the expected gains of traders and of intermediation system.File in questo prodotto:
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