Resource title

Value of information in competitive economies with incomplete markets

Resource image

image for OpenScout resource :: Value of information in competitive economies with incomplete markets

Resource description

A substantial literature addresses the negative eect on welfare of the release of information in a competitive market economy. We show that the value of information in this setting is typically positive if asset markets are suciently incomplete. More specically, for any competitive equilibrium of a generic economy, we can nd a ner information structure such that an allocation that is resource feasible and measurable with respect to this information ex- post Pareto dominates the given equilibrium allocation.

Resource author

Resource publisher

Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://eprints.lse.ac.uk/4749/1/Value_of_Information_in_Competitive_Economies_with_Incomplete_Markets.pdf

Resource license