Financial Innovation and Risk, the Role of Information

Financial Innovation and Risk, the Role of Information
Financial innovation has increased diversification opportunities and lowered investment costs, but has not reduced the relative cost of active (informed) investment strategies relative to passive (less informed) strategies. What are the consequences? I study an economy with linear production technologies, some more risky than others. Investors... READ MORE...

Publication date: November 2010
ISBN 9781455210732
$18.00

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