Information and Learning in Markets
Subtitle: The Impact of Market Microstructure
Publisher: Princeton University Press
Published: May 1, 2008
Language: eng
Format: Hardcover
Number of pages: 416
ISBN-13: 9780691127439
Subjects: Economics; Economics - Microeconomics; Finance; Business & Economics; Business / Economics / Finance; Business/Economics
Description: "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 from the rational expectations and herding literatures."--Jacket.