Report
Costly information and the stock market
Abstract: In a simple, coherent, general equilibrium model it is demonstrated why stock market prices do not reflect costly but socially useless information.
Access Documents
File(s): File format is application/pdf http://www.minneapolisfed.org/research/common/pub_detail.cfm?pb_autonum_id=334
Authors
Bibliographic Information
Provider: Federal Reserve Bank of Minneapolis
Part of Series: Staff Report
Publication Date: 1980
Number: 53