| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11190 |
| DP11190 Data Abundance and Asset Price Informativeness | |
| Thierry Foucault; Jérôme Dugast | |
| 发表日期 | 2016-03-23 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Investors can acquire either raw or processed information about the payoff of risky assets. Information processing filters out the noise in raw information but it takes time. Hence, investors buying processed information trade with a lag relative to investors buying raw information. As the cost of raw information declines, more investors trade on it, which reduces the value of processed information, unless raw information is very unreliable. Thus, a decline in the cost of raw information can reduce the demand for processed information and, for this reason, the informativeness of asset prices in the long run. |
| 主题 | Financial Economics |
| 关键词 | Price informativeness Information processing Markets for information Contrarian and momentum trading |
| URL | https://cepr.org/publications/dp11190 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540007 |
| 推荐引用方式 GB/T 7714 | Thierry Foucault,Jérôme Dugast. DP11190 Data Abundance and Asset Price Informativeness. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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