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Asymmetric Information in Financial Markets: Introduction and Applications

Asymmetric Information in Financial Markets: Introduction and Applications

Hardcover

AccountingInvesting & Finance

ISBN10: 0521793424
ISBN13: 9780521793421
Publisher: Cambridge University Press
Published: Aug 21 2003
Pages: 172
Weight: 1.14
Height: 0.44 Width: 7.00 Depth: 10.00
Language: English
Within the economist's abstraction of a Perfect Market it is assumed that all agents have access to the same timely, accurate and free information, and as a result allocative efficiency will be achieved. In practice this rarely happens and in most cases agents have access to different levels of information so that transactions are characterized by asymmetric information. This book presents the first integrated treatment of asymmetric information as both a macroeconomic and microeconomic phenomenon in financial markets.

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