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We consider a model in which agents gradually learn about the aggregate market conditions — ‘boom’ or ‘bust’ — from the information disclosed after a trading round. The disclosure rules… Click to show full abstract
We consider a model in which agents gradually learn about the aggregate market conditions — ‘boom’ or ‘bust’ — from the information disclosed after a trading round. The disclosure rules can generate asymmetric learning and affect the degree of asymmetry. In particular, when only winning bids are publicly disclosed, learning is more rapid in a bust.
Keywords:
information;
information disclosure;
disclosure asymmetric;
disclosure;
asymmetric speed;
speed learning
Journal Title: Economics Letters
Year Published: 2017
Link to full text (if available)
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Journal Title: Economics Letters
Year Published: 2017
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!