Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- CAPM (1)
- Capital Asset Pricing Model (1)
- Chaos finance (1)
- Chaos theory (1)
- Corporate equities (1)
-
- Disagreement-based trading (1)
- ECMH (1)
- Efficient Capital Markets Hypothesis (1)
- Information arbitrage (1)
- Liquidity trading (1)
- Market anomalies (1)
- Noise theory (1)
- Noise trading theory (1)
- Portfolio balancing (1)
- Postmodern finance (1)
- Secondary securities market (1)
- Speculation (1)
- Speculative trading (1)
- Transactions costs (1)
- Warren Buffett (1)
Articles 1 - 2 of 2
Full-Text Articles in Law
How Efficient Markets Undervalue Stocks: Capm And Ecmh Under Conditions Of Uncertainty And Disagreement, Lynn A. Stout
How Efficient Markets Undervalue Stocks: Capm And Ecmh Under Conditions Of Uncertainty And Disagreement, Lynn A. Stout
Cornell Law Faculty Publications
Technology, Transactions Costs, And Investor Welfare: Is A Motley Fool Born Every Minute?, Lynn A. Stout
Technology, Transactions Costs, And Investor Welfare: Is A Motley Fool Born Every Minute?, Lynn A. Stout
Cornell Law Faculty Publications
Computer network technology promises to revolutionize the secondary securities market and particularly to reduce dramatically the marginal costs associated with trading corporate equities. Lowering transactions costs usually is presumed to increase trader welfare. Certain unique characteristics of the secondary securities market suggest, however, that reducing the marginal costs associated with trading stocks may have the perverse and counterintuitive effect of decreasing investor welfare. Policymakers should consider this possibility as they respond to the market's rapid evolution.