Middlemen and private information
Article Abstract:
The welfare-improving role of middlemen in various scenarios of private information exchange between agents is explored. The quality of private information exchange dictates the quality of trade between agents. Cost as well as goods quality aspects in the trade are affected by the the information verification parameter and showed that high quality trade is effected between agents given the high quality of private information and significant investments in information verification are made.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Intrinsic bubbles and regime-switching
Article Abstract:
Regime-switching performs better than intrinsic bubbles in illustrating dividends and stock prices behavior. The incremental explanatory contribution of intrinsic bubble becomes low when allowance is taken into consideration both for the bubble and for regime-switching in the dividend process. A Markov switching model was found to be suitable for representing dividends.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Crises and prices: information aggregation, multiplicity, and volatility. Paying not to go the gym
- Abstracts: Social assets. Information gathering by a principal. The welfare effects of upstream mergers in the presence of downstream entry barriers
- Abstracts: Organization design and information-sharing in a research joint venture with spillovers. Growth regressions and what the textbooks don't tell you
- Abstracts: Monetary policy, delegation and polarisation. Men without children
- Abstracts: Portfolio substitution and exchange rate volatility. Intergenerational earnings mobility, inequality and growth