Informed Speculation with Imperfect Competition
- 1 July 1989
- journal article
- Published by Oxford University Press (OUP) in The Review of Economic Studies
- Vol. 56 (3) , 317-355
- https://doi.org/10.2307/2297551
Abstract
Competitive rational expectations models have the unsatisfactory property, dubbed the “schizophrenia” problem by Hellwig, that each trader takes theKeywords
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