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Centralizing information improves market efficiency more than increasing information: Results from experimental asset markets
Barreda-Tarrazona, Iván; Grimalda, Gianluca; MORONE, ANDREA; Nuzzo, Simone; Teglio, Andrea (2017-09-07)We study the relationship between market efficiency and the distribution of private information in experimental financial asset markets. Traders receive imperfect signals over the real value of an asset. Agents can share ...