On the Relation between Private Information and Non-Fundamental Volatility

IF 0.3 4区经济学 Q4 ECONOMICS

B E Journal of Theoretical Economics Pub Date : 2022-09-06 DOI:10.1515/bejte-2021-0166

Myungkyu Shim, Doyoung Song

引用次数: 0

Abstract

Abstract It is a well-established property that more precise private information leads to lower non-fundamental volatility in a coordination economy with dispersed information. In this note, we identify conditions under which such an argument holds or does not hold. In particular, we show that the opposite relationship holds when (1) there is a strong positive correlation between private information of different agents and (2) public information is endogenously generated.

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私人信息与非基本波动的关系研究

摘要在信息分散的协调经济中，更精确的私有信息导致更低的非基本波动是一个公认的性质。在本注释中，我们确定了这样一个论证成立或不成立的条件。特别是，我们发现，当(1)不同主体的私有信息之间存在很强的正相关关系，(2)公共信息是内生性产生时，相反的关系成立。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

B E Journal of Theoretical Economics ECONOMICS-

CiteScore

0.80

自引率

25.00%

发文量

期刊介绍： We welcome submissions in all areas of economic theory, both applied theory and \"pure\" theory. Contributions can be either innovations in economic theory or rigorous new applications of existing theory. Pure theory papers include, but are by no means limited to, those in behavioral economics and decision theory, game theory, general equilibrium theory, and the theory of economic mechanisms. Applications could encompass, but are by no means limited to, contract theory, public finance, financial economics, industrial organization, law and economics, and labor economics.