Reasons for bid ask spred
Conditions for EMH to Hold
Can Prices Reflect all Information? Grossman-Stiglitz Paradox
If prices are informative, informed trading will not be profitable and informed traders will not trade
Prices are not always fully informative:
Fundamental values are constantly changing
Under- and overreaction to news
Uninformed trading drives prices away
from their efficient level
main critic of kyle model and findings
Recap: Marketable vs. Non-Marketable Orders
Zuletzt geändertvor einem Jahr
