메뉴 건너뛰기




Volumn 113, Issue 1, 2003, Pages 76-103

An equilibrium analysis of information aggregation and fluctuations in markets with discrete decisions

Author keywords

Equilibrium randomness; Information aggregation; Investment fluctuations

Indexed keywords


EID: 0344630217     PISSN: 00220531     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0022-0531(03)00081-4     Document Type: Article
Times cited : (2)

References (17)
  • 1
    • 38249020018 scopus 로고
    • Partially-revealing rational expectations equilibrium in a competitive economy
    • L.M. Ausubel, Partially-revealing rational expectations equilibrium in a competitive economy, J. Econom. Theory 50 (1990) 93-126.
    • (1990) J. Econom. Theory , vol.50 , pp. 93-126
    • Ausubel, L.M.1
  • 2
    • 0001660909 scopus 로고    scopus 로고
    • Multidimensional uncertainty and herd behavior in financial markets
    • C. Avery, P. Zemsky, Multidimensional uncertainty and herd behavior in financial markets, Amer. Econom. Rev. 88 (1998) 724-748.
    • (1998) Amer. Econom. Rev. , vol.88 , pp. 724-748
    • Avery, C.1    Zemsky, P.2
  • 3
    • 84960565609 scopus 로고
    • A simple model of herd behavior
    • A.V. Banerjee, A simple model of herd behavior, Quart. J. Econom. 107 (1992) 797-817.
    • (1992) Quart. J. Econom. , vol.107 , pp. 797-817
    • Banerjee, A.V.1
  • 4
    • 0038154501 scopus 로고    scopus 로고
    • Information acquisition in financial markets
    • G. Barlevy, P. Veronesi, Information acquisition in financial markets, Rev. Econom. Stud. 67 (2000) 79-90.
    • (2000) Rev. Econom. Stud. , vol.67 , pp. 79-90
    • Barlevy, G.1    Veronesi, P.2
  • 5
    • 27744568768 scopus 로고
    • A theory of fads, fashion, custom, and cultural change as informational cascades
    • S. Bikhchandani, D. Hirshleifer, I. Welch, A theory of fads, fashion, custom, and cultural change as informational cascades, J. Polit. Econom. 100 (1992) 992-1026.
    • (1992) J. Polit. Econom. , vol.100 , pp. 992-1026
    • Bikhchandani, S.1    Hirshleifer, D.2    Welch, I.3
  • 6
    • 77956767363 scopus 로고    scopus 로고
    • Aggregate investment
    • J.B. Taylor, M. Woodford (Eds.), North-Holland, Amsterdam
    • R.J. Caballero, Aggregate investment, in: J.B. Taylor, M. Woodford (Eds.), Handbook of Macroeconomics, North-Holland, Amsterdam, 1999, pp. 813-862.
    • (1999) Handbook of Macroeconomics , pp. 813-862
    • Caballero, R.J.1
  • 7
    • 4544259886 scopus 로고
    • Sectoral shocks, learning and aggregate fluctuations
    • A. Caplin, J. Leahy, Sectoral shocks, learning and aggregate fluctuations, Rev. Econom. Stud. 60 (1993) 777-794.
    • (1993) Rev. Econom. Stud. , vol.60 , pp. 777-794
    • Caplin, A.1    Leahy, J.2
  • 8
    • 0000031466 scopus 로고
    • Business as usual, market crashes and wisdom after the fact
    • A. Caplin, J. Leahy, Business as usual, market crashes and wisdom after the fact, Amer. Econom. Rev. 84 (1994) 548-565.
    • (1994) Amer. Econom. Rev. , vol.84 , pp. 548-565
    • Caplin, A.1    Leahy, J.2
  • 9
    • 0000756428 scopus 로고
    • Information revelation and strategic delay in a model of investment
    • C. Chamley, D. Gale, Information revelation and strategic delay in a model of investment, Econometrica 62 (1994) 1065-1085.
    • (1994) Econometrica , vol.62 , pp. 1065-1085
    • Chamley, C.1    Gale, D.2
  • 10
    • 0002245492 scopus 로고    scopus 로고
    • Aggregation, determinacy, and informational efficiency for a class of economies with asymmetric information
    • P. DeMarzo, C. Skiadas, Aggregation, determinacy, and informational efficiency for a class of economies with asymmetric information, J. Econom. Theory 80 (1998) 123-152.
    • (1998) J. Econom. Theory , vol.80 , pp. 123-152
    • DeMarzo, P.1    Skiadas, C.2
  • 11
    • 0000545459 scopus 로고    scopus 로고
    • The revelation of information and self-fulfilling beliefs
    • J. Dutta, S. Morris, The revelation of information and self-fulfilling beliefs, J. Econom. Theory 73 (1997) 231-244.
    • (1997) J. Econom. Theory , vol.73 , pp. 231-244
    • Dutta, J.1    Morris, S.2
  • 12
    • 0001485455 scopus 로고    scopus 로고
    • What have we learned from social learning?
    • D. Gale, What have we learned from social learning?, European Econom. Rev. 40 (1996) 617-628.
    • (1996) European Econom. Rev. , vol.40 , pp. 617-628
    • Gale, D.1
  • 13
    • 0001188867 scopus 로고
    • On the impossibility of informationally efficient markets
    • S.J. Grossman, J.E. Stiglitz, On the impossibility of informationally efficient markets, Amer. Econom. Rev. 70 (1980) 393-408.
    • (1980) Amer. Econom. Rev. , vol.70 , pp. 393-408
    • Grossman, S.J.1    Stiglitz, J.E.2
  • 14
    • 85030920170 scopus 로고    scopus 로고
    • Efficiency and information aggregation in auctions with costly information
    • forthcoming
    • M.O. Jackson, Efficiency and information aggregation in auctions with costly information, Rev. Econom. Des., forthcoming.
    • Rev. Econom. Des.
    • Jackson, M.O.1
  • 15
    • 0000513419 scopus 로고
    • Good news and bad news: Representation theorems and applications
    • P.R. Milgrom, Good news and bad news: representation theorems and applications, Bell J. Econom. 13 (1981) 380-391.
    • (1981) Bell J. Econom. , vol.13 , pp. 380-391
    • Milgrom, P.R.1
  • 16
    • 0000779299 scopus 로고    scopus 로고
    • Efficiency and information aggregation in auctions
    • W. Pesendorfer, J.M. Swinkels, Efficiency and information aggregation in auctions, Amer. Econom. Rev. 90 (2000) 499-525.
    • (2000) Amer. Econom. Rev. , vol.90 , pp. 499-525
    • Pesendorfer, W.1    Swinkels, J.M.2
  • 17
    • 84963042209 scopus 로고
    • Informational cycles
    • J. Zeira, Informational cycles, Rev. Econom. Stud. 61 (1994) 31-44.
    • (1994) Rev. Econom. Stud. , vol.61 , pp. 31-44
    • Zeira, J.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.