Search citation statements

Order By: Relevance

Paper Sections

Select...
5

Citation Types

31
326
1

Year Published

1998
1998
2013
2013

Publication Types

Select...
8
1

Relationship

0
9

Authors

Journals

citations
Cited by 1,170 publications
(358 citation statements)
references
References 31 publications
31
326
1
Order By: Relevance
“…However, in both theoretical and empirical literature, the effects of news on efficient and noise-driven volatility components are widely unexplored. The literature on heterogeneous beliefs suggests that uncertainty about the equilibrium price level is created by disagreement among traders about the precision of the news or about its interpretation (e.g., Harris and Raviv, 1993, Kandel and Pearson, 1995, and Kandel and Zilberfarb, 1999. According to this literature, greater disagreement among traders leads to higher trading activity.…”
Section: Introductionmentioning
confidence: 99%
“…However, in both theoretical and empirical literature, the effects of news on efficient and noise-driven volatility components are widely unexplored. The literature on heterogeneous beliefs suggests that uncertainty about the equilibrium price level is created by disagreement among traders about the precision of the news or about its interpretation (e.g., Harris and Raviv, 1993, Kandel and Pearson, 1995, and Kandel and Zilberfarb, 1999. According to this literature, greater disagreement among traders leads to higher trading activity.…”
Section: Introductionmentioning
confidence: 99%
“…They sometimes argue that agents may hold divergent probabilistic opinions even when all information is public, the reason being that they interpret this information differently. For example, in the field of financial economics, see Miller (1977), Mayshar (1983), Harris and Raviv (1993), and Kandel and Pearson (1995).…”
Section: Introductionmentioning
confidence: 99%
“…In our focus on imperfectly competitive markets, we also follow a convention in the literature on speculative trade (most notably, Kyle (1984Kyle ( ,1985Kyle ( ,1989), Harris and Raviv (1993), Kyle and Wang (1997) and Odean (1998)). The main di¤erence between these works and the present paper is that we do not assume that speculation is achieved by trading an exogenously given set of …nancial instruments in some forward market of a particular structure.…”
Section: Introductionmentioning
confidence: 99%