کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5097777 1478610 2012 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Information Acquisition in the Presence of Asymmetries in Risk Aversion
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Information Acquisition in the Presence of Asymmetries in Risk Aversion
چکیده انگلیسی
In the presence of two groups of agents, each exhibiting different degrees of risk aversion, we study a simple model of information acquisition. We find the unique equilibrium, which is characterized by a unique cutoff that separates the investors in two endogenously determined groups (one choosing optimally to be informed, the other uninformed) if all are ordered along the real line by degree of risk aversion. Furthermore, while the informativeness of the price system does not change with the share of high-risk aversion investors in the population, it does change with the degree of risk aversion (of either group and even if that group as a whole decides optimally to stay uninformed), the cost of information and the quality of information.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Journal of Economic Asymmetries - Volume 9, Issue 2, December 2012, Pages 1-9
نویسندگان
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