Liquidity and Asset Returns Under Asymmetric Information and Imperfect Competition
We analyze how asymmetric information and imperfect competition affect liquidity and asset prices. Our model has three periods: Agents are identical in the first, become heterogeneous and trade in the second, and consume asset payoffs in the third. We show that asymmetric information in the second p...
Main Authors: | Wang, Jiang (Contributor), Vayanos, Dimitri (Author) |
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Other Authors: | Sloan School of Management (Contributor) |
Format: | Article |
Language: | English |
Published: |
Oxford University Press,
2014-06-30T18:12:19Z.
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Subjects: | |
Online Access: | Get fulltext |
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