Middlemen and private information

Article Abstract:

The welfare-improving role of middlemen in various scenarios of private information exchange between agents is explored. The quality of private information exchange dictates the quality of trade between agents. Cost as well as goods quality aspects in the trade are affected by the the information verification parameter and showed that high quality trade is effected between agents given the high quality of private information and significant investments in information verification are made.

Economic aspects, Content analysis (Communication), Content analysis, Information theory, Information theory in economics

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Intrinsic bubbles and regime-switching

Article Abstract:

Regime-switching performs better than intrinsic bubbles in illustrating dividends and stock prices behavior. The incremental explanatory contribution of intrinsic bubble becomes low when allowance is taken into consideration both for the bubble and for regime-switching in the dividend process. A Markov switching model was found to be suitable for representing dividends.

Stocks, Dividends, Markov processes

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