The negative value of public information in the Glosten–Milgrom model

C-Tier
Journal: Economics Letters
Year: 2014
Volume: 124
Issue: 2
Pages: 207-210

Score contribution per author:

1.005 = (α=2.01 / 1 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In the standard market-microstructure model of Glosten and Milgrom (1985), public information can have negative social value. Equivalently, an increase in informational asymmetry can raise the total surplus from trade.

Technical Details

RePEc Handle
repec:eee:ecolet:v:124:y:2014:i:2:p:207-210
Journal Field
General
Author Count
1
Added to Database
2026-01-28