Competition in the stock market with asymmetric information
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- 作者：Kun Tracy Wang<sup>asup><sup> ; sup><sup>kun.wang@anu.edu.ausup> ; Wanbin Walter Wang<sup>bsup><sup> ; sup><sup>walter.wang@anu.edu.ausup>
- 关键词：C72 ; D82 ; G14
- 刊名：Economic Modelling
- 出版年：2017
- 出版时间：February 2017
- 年：2017
- 卷：61
- 期：Complete
- 页码：40-49
- 全文大小：475 K
- 卷排序：61
文摘
We study the trading strategies and profits of traders with asymmetric information. Traders’ profits are affected by the level of information advantage of the insider. The stock price jumps after the insider receives accurate inside information. The sophisticated investor can limit the insider's trading advantages and profits. The sophisticated investor can reduce the losses of the less sophisticated trader.