TITLE:
Information Processing and Financial Market Price Adjustments
AUTHORS:
Edwin H. Neave, William R. Scott
KEYWORDS:
Ultraorthodox Interpretations, Price System
JOURNAL NAME:
Theoretical Economics Letters,
Vol.9 No.7,
September
26,
2019
ABSTRACT: Using a model of heterogeneous investors’ responses
to changing information, this paper studies the impact of learning on
equilibrium price changes. The paper develops the comparative statics of single
period equilibrium conditions. It characterizes generally the variety of
circumstances encountered in the literature.