Spot trading, efficiency, and differential information

DOI10.1016/0022-0531(79)90038-3zbMath0448.90008OpenAlexW1979781221MaRDI QIDQ1147069

H. M. Shefrin

Publication date: 1979

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(79)90038-3

zbMATH Keywords

efficiencydifferential informationsecurity marketsfuture contractsinefficient contractsspot tradingvariable state of the world

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Cites Work

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• On the optimality of equilibrium when the market structure is incomplete
• A note on 'fulfilled expectations' equilibria
• A closed economy with exogenous uncertainty, different levels of information, money, futures and spot markets
• Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices
• The Existence of Futures Markets, Noisy Rational Expectations and Informational Externalities
• The Non-Existence of Informational Equilibria
• Trade and Prices in a Closed Economy with Exogeneous Uncertainty, Different Levels of Information, Money and Compound Futures Markets
• Competitive Equilibrium Under Uncertainty
• Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets
• Equilibrium with Transaction Costs

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