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- W2002209654 abstract "This paper analyses equilibrium in financial market when investors are aymmetrically informed, by using the methodology of game theory. We will show that bid-ask spread is increasing in probability of insider trading. Dynamic trading models suggest that insider?s informational advantage over market-maker is diminishing in time. By using sequential trading models we can explain various types of market manipulations and stock market crashes." @default.
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- W2002209654 date "2006-01-01" @default.
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- W2002209654 title "Assymetric information in the financial market: Sequential move games" @default.
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- W2002209654 doi "https://doi.org/10.2298/eka0670007t" @default.
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