How Long to Read Asset Pricing under Asymmetric Information

How Long Does it Take to Read Asset Pricing under Asymmetric Information?

It takes the average reader 4 hours and 24 minutes to read Asset Pricing under Asymmetric Information by Markus K. Brunnermeier

Assuming a reading speed of 250 words per minute. Learn more

Description

Asset prices are driven by public news and information that is often dispersed among many market participants. These agents try to infer each other's information by analyzing price processes. In the past two decades, theoretical research in financial economics has 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. The book begins by demonstrating how to model asymmetric information and higher-order knowledge. It then contrasts competitive and strategic equilibrium concepts under asymmetric information. It also illustrates the dependence of information efficiency and allocative efficiency on the security structure and the linkage between both efficiency concepts. No-Trade theorems and market breakdowns due to asymmetric information are then explained, and the existence of bubbles under symmetric and asymmetric information is investigated. The remainder of the survey is devoted to contrasting different market microstructure models that demonstrate how asymmetric information affects asset prices and traders' information , which provide a theoretical explanation for technical analysis and illustrate why some investors "chase the trend." The reader is then introduced to herding models and informational cascades, which can arise in a setting where agents' decision-making is sequential. The insights derived from herding models are used to provide rational explanations for stock market crashes. Models in which all traders are induced to search for the same piece of information are then presented to provide a deeper insight into Keynes' comparison of the stock market with a beauty contest. The book concludes with a brief summary of bank runs and their connection to financial crises.

How long is Asset Pricing under Asymmetric Information?

Asset Pricing under Asymmetric Information by Markus K. Brunnermeier is 262 pages long, and a total of 66,024 words.

This makes it 88% the length of the average book. It also has 81% more words than the average book.

How Long Does it Take to Read Asset Pricing under Asymmetric Information Aloud?

The average oral reading speed is 183 words per minute. This means it takes 6 hours to read Asset Pricing under Asymmetric Information aloud.

What Reading Level is Asset Pricing under Asymmetric Information?

Asset Pricing under Asymmetric Information is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Asset Pricing under Asymmetric Information?

Asset Pricing under Asymmetric Information by Markus K. Brunnermeier is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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