IDEAS home Printed from https://ideas.repec.org/a/ses/arsjes/1998-ii-2.html
   My bibliography  Save this article

The Informational Role of Volume Vis-à-Vis No-Trade Results: A Note

Author

Listed:
  • Chiente Hsu
  • Gerhard O. Orosel

Abstract

The prominent Milgrom-Stokey no-trade theorem shows that differences in private information alone cannot give rise to trade among fully rational agents. In this note we demonstrate that similar no-trade results hold as well for a model introduced recently by Blume, Easly and O'Hara although in this model the agents are only boundedly rational and therefore the Milgrom-Stokey theorem does not apply. Our conclusion is that for an analysis of the informational content of volume one needs a model that contains non-informational reasons for trade in addition to differences in information.

Suggested Citation

  • Chiente Hsu & Gerhard O. Orosel, 1998. "The Informational Role of Volume Vis-à-Vis No-Trade Results: A Note," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 134(II), pages 133-158, June.
    • Handle: RePEc:ses:arsjes:1998-ii-2
    as

    Download full text from publisher

    File URL: http://www.sjes.ch/papers/1998-II-2.pdf
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ses:arsjes:1998-ii-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kurt Schmidheiny (email available below). General contact details of provider: https://edirc.repec.org/data/sgvssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.