dc.contributor.author | GOTTARDI, Piero | |
dc.contributor.author | RAHI, Rohit | |
dc.date.accessioned | 2010-08-27T13:09:40Z | |
dc.date.available | 2010-08-27T13:09:40Z | |
dc.date.issued | 2010 | |
dc.identifier.issn | 1725-6704 | |
dc.identifier.uri | https://hdl.handle.net/1814/14440 | |
dc.description.abstract | We study the value of information in a competitive economy in which agents trade in asset markets to reallocate risk. We characterize the kinds of information that allow a welfare improvement when portfolios can be freely reallocated. We then compare competitive equilibria before and after a change in information. We show that generically, if markets are sufficiently incomplete, the welfare effects are completely arbitrary: there typically exist changes in information that make all agents better off, or all agents worse off. | en |
dc.format.mimetype | application/pdf | |
dc.language.iso | en | en |
dc.relation.ispartofseries | EUI ECO | en |
dc.relation.ispartofseries | 2010/34 | en |
dc.relation.hasversion | http://hdl.handle.net/1814/33681 | |
dc.rights | info:eu-repo/semantics/openAccess | |
dc.subject | D52 | en |
dc.subject | D60 | en |
dc.subject | D80 | en |
dc.subject | Competitive Equilibrium | en |
dc.subject | Incomplete Markets | en |
dc.subject | Value of Information | en |
dc.title | Value of Information in Competitive Economies with Incomplete Markets | en |
dc.type | Working Paper | en |
dc.neeo.contributor | GOTTARDI|Piero|aut|EUI70004 | |
dc.neeo.contributor | RAHI|Rohit|aut| | |
eui.subscribe.skip | true | |