Informed Trading, Investment, and Welfare

Journal of Business

Volumn 76, Issue 3, 2003, Pages 439-454

  Dow, James ^a   Rahi, Rohit ^b  

^a LONDON BUSINESS SCHOOL   (United Kingdom)

^b NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0345016952     PISSN: 00219398     EISSN: None     Source Type: Journal    
DOI: 10.1086/375254     Document Type: Article

References (15)

1. Anderson, T. W. 1984. An Introduction to Multivariate Statistical Analysis. 2d ed. New York: Wiley.
2. Boot, A. W. A., and Thakor, A. V. 1997. Banking scope and financial innovation. Review of Financial Studies 10 (Winter): 1099-1131.
3. Bresnahan, T.; Milgrom, P.; and Paul, J. 1992. The real output of the stock exchange. In Z. Griliches (ed.), Output Measurement in the Service Sectors. Chicago: University of Chicago Press.
4. Diamond, D. W., and Verrecchia, R. E. 1981. Information aggregation in a noisy rational expectations economy. Journal of Financial Economics 9:221-35.
5. Dow, J., and Gorton, G. 1997. Stock market efficiency and economic efficiency: Is there a connection? Journal of Finance 52 (July): 1087-1129.
6. Graaff, J. de V. 1957. Theoretical Welfare Economics. Cambridge: Cambridge University Press.
7. Grossman, S. J., and Stiglitz, J. E. 1980. On the impossibility of informationally efficient markets. American Economic Review 70 (June): 393-408.
8. Henrotte, P. 1992. Market behavior with endogenous production and asymmetric information. Working paper. Stanford, Calif.: Stanford University.
9. Hirshleifer, J. 1971. The private and social value of information and the reward to inventive activity. American Economic Review 61 (September): 561-74.
10. Holmström, B., and Tirole, J. 1993. Market liquidity and performance monitoring. Journal of Political Economy 101 (August): 678-709.
11. Kyle, A. S. 1985. Continuous auctions and insider trading. Econometrica 53 (November): 1315-35.
12. Leland, H. L. 1992. Insider trading: Should it be prohibited? Journal of Political Economy 100: 859-87.
13. Marin, J. M., and Rahi, R. 1999. Speculative securities. Economic Theory 14:653-68.
14. Marin, J. M., and Rahi, R. 2000. Information revelation and market incompleteness. Review of Economic Studies 67 (July): 563-79.
15. Spiegel, M., and Subrahmanyam, A. 1992. Informed speculation and hedging in a noncooperative securities market. Review of Financial Studies 5 (Summer): 307-29.