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A Model of Informed Intermediation in the Market for Going Public

Aydogan Alti, Jonathan Cohn   Nov 01,2022

We present a model in which informed experts intermediate in the market for going public by acquiring private firms and... Read More

Risk seekers: trade, noise, and the rationalizing effect of market impact on convex preferences

Efstathios Avdis   Oct 08,2020

Long-held intuition dictates that information-based trade is impossible without exogenous noise. Risk seekers can resolve this conundrum. Even though such... Read More