Corpus ID: 221208418

Persistent Liquidity Trade in the Presence of Many Informed Traders

@inproceedings{Woolnough2014PersistentLT,
  title={Persistent Liquidity Trade in the Presence of Many Informed Traders},
  author={C. Woolnough},
  year={2014}
}
This paper analyzes a model of asset pricing under asymmetric information with multiple informed traders. Informed traders may have private information of two types: information on the fundamental asset value and information concerning an exogenous persistent demand shock. They need not be symmetrically informed; some may be better informed about the asset value, while others better informed about the demand shock. Results demonstrate that rational informed traders have incentives to initially… Expand

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