Blar i Discussion papers (FOR) på emneord "innovation equation"
Viser treff 1-2 av 2
-
Strategic insider trading equilibrium : a filter theory approach
(Discussion paper, Working paper, 2010-08)The continuous-time version of Kyle's (1985) model of asset pricing with asymmetric information is studied, and generalized in various directions, i.e., by allowing time-varying liquidity trading, and by having weaker ... -
Strategic Insider Trading Equilibrium with a non-fiduciary market maker
(Discussion paper;2/19, Working paper, 2019-08-28)The continuous-time version of Kyle's (1985) model is studied, in which market makers are not fiduciaries. They have some market power which they utilize to set the price to their advantage, resulting in positive expected ...