• Title of article

    Asymmetric information and economics

  • Author/Authors

    B. Roy Frieden، نويسنده , , Raymond J. Hawkins، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 2010
  • Pages
    9
  • From page
    287
  • To page
    295
  • Abstract
    We present an expression of the economic concept of asymmetric information with which it is possible to derive the dynamical laws of an economy. To illustrate the utility of this approach we show how the assumption of optimal information flow leads to a general class of investment strategies including the well-known Q theory of Tobin. Novel consequences of this formalism include a natural definition of market efficiency and an uncertainty principle relating capital stock and investment flow.
  • Journal title
    Physica A Statistical Mechanics and its Applications
  • Serial Year
    2010
  • Journal title
    Physica A Statistical Mechanics and its Applications
  • Record number

    873452