Abstract
We must look at the price system as a ... mechanism for communicating information if we want to understand its real function. Hayek (1945)
Noise trading is essential to the existence of liquid markets …. Noise makes financial markets possible, but also makes them imperfect …. Noise creates the opportunity to trade profitably, but at the same time makes it difficult to trade profitably. Black (1986)
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© 2003 Springer-Verlag London
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Barucci, E. (2003). Information and Financial Markets. In: Financial Markets Theory. Springer Finance. Springer, London. https://doi.org/10.1007/978-1-4471-0089-8_7
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DOI: https://doi.org/10.1007/978-1-4471-0089-8_7
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