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Zusatztext This timely book provides an invaluable map for students and researchers navigating the literature on market microstructure! and more generally! on equilibrium with asymmetric information. It will become highly recommended reading for graduate courses in the economics of uncertainty and in financial economics. Hyun Song Shin! Professor of Finance at the London School of Economicsr Informationen zum Autor Markus K. Brunnermeier is an Assistant Professor in the Department of Economics at Princeton University, where he teaches courses in financial economics. He was previously a member of the Financial Markets Group at the London School of Economics. Klappentext The role of information is central to the academic debate on finance. This book provides a detailed, current survey of theoretical research into the effect on stock prices of the distribution of information, comparing and contrasting major models. It examines theoretical models that explain bubbles, technical analysis, and herding behavior. It also provides rational explanations for stock market crashes. Analyzing the implications of asymmetries in information is crucial in this area. This book provides a useful survey for graduate students. Zusammenfassung During the 1980s and 1990s, theoretical research in financial economics significantly advanced our understanding of the informational aspects of price processes. This book provides a detailed and up-to-date survey of this important body of literature. Inhaltsverzeichnis 1: Information, Equilibrium, Efficiency Concepts 2: No-Trade Theorems, Asset Pricing, Bubbles 3: Market Microstructure Models 4: Dynamic Models, Technical Analysis and Volume 5: Herding and Informational Cascades 6: Crashes, Investigative Herding, Bank Runs
