Q2. What are the future works in this paper?
Studying such extensions is an interesting avenue for future research.
Efficiency and Information Transmission in Bilateral Trading
Robert Shimer,Iván Werning +1 more
TLDR
In this paper, the authors study pairwise trading in the presence of one-sided or two-sided private information and limited commitment, and show that when one trader's information is relevant for the other trader's value of the asset, optimal trading arrangements may necessarily conceal the traders' information.About:
This article is published in Review of Economic Dynamics.The article was published on 2019-07-01 and is currently open access. It has received 3 citations till now. The article focuses on the topics: Trading turret & Electronic trading.read more
Figures
Figure 1: Regions of the parameter space in which different types of veto incentive compatible mechanisms are trade-maximizing. The details of the mechanisms are given in Proposition 7. 
Figure 2: Trading Probability with α = 3/4. The solid line shows the trading probability under the trade-maximizing veto incentive compatible mechanism, the solution to problem (7). The dashed line imposes the additional constraint that the mechanism is fully-revealing, the solution to problem (9). 
Figure 3: The set of feasible payoffs with 2-sided private information. The figure assumes the payoff structure in Section 5.1 with α = 0.6 and γ = 0.2. The lightest shaded area is the set of payoffs obtainable using a fully revealing veto incentive compatible mechanism. The intermediate shaded area is the set of payoffs that can additional be obtained using an arbitrary veto incentive compatible mechanism. The darkest area shows the set of payoffs that can additionally be obtained using an interim mechanism.
Citations
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Journal ArticleDOI
Adverse selection with heterogeneously informed agents
TL;DR: In this paper, a model of over-the-counter markets is proposed, where some asset buyers are informed in that they can identify high quality assets, and heterogeneous sellers with private information choose what type of buyers they want to trade with.
Journal ArticleDOI
Research on High-Frequency Information-Transmission Method of Smart Grid Based on CNN-LSTM Model
TL;DR: A research method of high-frequency information transmission in smart grids based on the CNN-LSTM model is proposed, which effectively combines the superiority of the CNN algorithm for high- frequencies information feature extraction and the learning ability of the LSTM algorithm for global features of high -frequency information.
References
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Journal ArticleDOI
Efficient capital markets: a review of theory and empirical work*
TL;DR: Efficient Capital Markets: A Review of Theory and Empirical Work Author(s): Eugene Fama Source: The Journal of Finance, Vol. 25, No. 2, Papers and Proceedings of the Twenty-Eighth Annual Meeting of the American Finance Association New York, N.Y. December, 28-30, 1969 (May, 1970), pp. 383-417 as mentioned in this paper
Journal ArticleDOI
The Market for “Lemons”: Quality Uncertainty and the Market Mechanism
TL;DR: In this paper, the authors present a struggling attempt to give structure to the statement: "Business in under-developed countries is difficult"; in particular, a structure is given for determining the economic costs of dishonesty.
Book ChapterDOI
The use of knowledge in society
TL;DR: In this paper, it was pointed out that many of the current disputes with regard to both economic theory and economic policy have their common origin, it seems to me, in a misconception about the nature of the economic problem of society.
Journal ArticleDOI
Efficient Capital Markets: II
TL;DR: A review of the market efficiency literature can be found in this article, where the authors discuss the work that they find most interesting, and offer their views on what we have learned from the research on market efficiency.
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