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Gârleanu et al., 2004 - Google Patents

Adverse selection and the required return

Gârleanu et al., 2004

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Document ID
1068290009012961298
Author
Gârleanu N
Pedersen L
Publication year
Publication venue
The Review of Financial Studies

External Links

Snippet

An important feature of financial markets is that securities are traded repeatedly by asymmetrically informed investors. We study how current and future adverse selection affect the required return. We find that the bid-ask spread generated by adverse selection is not a …
Continue reading at pages.stern.nyu.edu (PDF) (other versions)

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