Construct · 1 fields · 1 citations

no-trade theorem: a standalone construct

One name. One construct. A landmark on the map.

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no-tradetheorem1 CONSTRUCTNo-trade theoremMILGROM · FINANCE

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Finance

the result that rational traders with common priors cannot agree to trade purely on private information, since any offer reveals something.

In finance, no-trade theorem refers to the result that rational traders with common priors cannot agree to trade purely on private information, since any offer reveals something. This meaning comes from Milgrom (1982) in Journal of Economic Theory.[1]

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Nearby constructs

information4 fields · 5 citationsjingle · one word, four constructsoffer1 fields · 1 citationsanchor · a standalone construct

References

  1. Milgrom, P., & Stokey, N. (1982). Information, trade and common knowledge. Journal of Economic Theory, 26(1), 17-27. https://doi.org/10.1016/0022-0531(82)90046-1

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