Book chapter
no trade theorems
The New Palgrave Dictionary of Economics, Palgrave Macmillan, 1
2010
Abstract
No trade theorems represent a class of results showing that, under certain conditions, trade in asset markets between rational agents cannot be explained on the basis of differences in information alone. They pose a challenge to provide a theoretical justification of the high trade volumes observed in financial markets. This article overviews existing no trade theorems and discusses alternative approaches to modelling information-based trade.
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Details
- Title
- no trade theorems
- Creators
- Ricardo Serrano-Padial
- Contributors
- Steven N Durlauf (Editor)Lawrence E Blume (Editor)
- Series
- The New Palgrave Dictionary of Economics
- Publisher
- Palgrave Macmillan
- Edition
- 1
- Resource Type
- Book chapter
- Language
- English
- Academic Unit
- Economics (School of Economics)
- Identifiers
- 991021807005104721