Information and learning in markets : the impact of market microstructure /

The ways financial analysts, traders, and other specialists use information and learn from each other are of fundamental importance to understanding how markets work and prices are set. This graduate-level textbook analyzes how markets aggregate information and examines the impacts of specific marke...

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Bibliographic Details
Main Author: Vives, Xavier (Author)
Format: Electronic eBook
Language:English
Published: Princeton : Princeton University Press, ©2008.
Subjects:
Online Access:CONNECT

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520 |a The ways financial analysts, traders, and other specialists use information and learn from each other are of fundamental importance to understanding how markets work and prices are set. This graduate-level textbook analyzes how markets aggregate information and examines the impacts of specific market arrangements--or microstructure--on the aggregation process and overall performance of financial markets. Xavier Vives bridges the gap between the two primary views of markets--informational efficiency and herding--and uses a coherent game-theoretic framework to bring together the latest results f. 
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505 0 |a Aggregation of information in simple market mechanisms : large markets -- Aggregation of information in simple market mechanisms : how large is large? -- Rational expectations and supply function competition -- Rational expectations and market microstructure in financial markets -- Strategic traders in financial markets -- Learning from others and herding -- Dynamic information aggregation -- Dynamic rational expectations models in competitive financial markets -- Price and information dynamics in financial markets -- Technical appendix. 
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