Now showing items 1-3 of 3

    • Credit rationing and the permanent income hypothesis 

      Vicent, Daniel; Werlang, Sérgio Ribeiro da Costa; Tan, Tommy Chin-Chiu; Madrigal, Vicente
    • Preferences, common knowledge and speculative trade 

      Dow, James; Werlang, Sérgio Ribeiro da Costa; Madrigal, Vicente
      We study the proposition that if it is common knowledge that en allocation of assets is ex-ante pareto efficient, there is no further trade generated by new information. The key to this result is that the information ...
    • Signalling and arbitrage 

      Chin-Chiu Tan, Tommy; Madrigal, Vicente
      Given a competitive signalling game, we study a transformed game which includes the natural enrichment of contractual opportunities in a market. We show that subgame perfect equilibrium outcomes in the new game which satisfy ...