Three essays on insider trading

This dissertation presents three theoretical essays on insider trading in financial markets. The first essay studies the workings of a cash market and a futures market under uncertainty. The model in this essay is an extension of work by Danthine (Journal of Economic Theory, 1978), in which perfectly competitive risk averse producers can sell their output on the cash market, at an uncertain price, or on a futures market at a guaranteed price. Risk averse speculators also trade in futures, having received noisy signals about eventual cash demand. In my first essay, the speculators are as uniformed as the competitive producers. A dominant firm, however, possesses information about cash demand. Each uniformed agent has individual beliefs about demand. In equilibrium, these beliefs remain heterogeneous. The inside information of the dominant firm is not necessarily revealed.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Economics

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2011

Author dc:creator

• Tighe, Carla Evelyn

• Economics, General
• Economics, Finance
• Economics, Theory

Statement dc:rights

• Copyright 1989 Tighe, Carla Evelyn

Language dc:language

eng

Identifier

AAI9011053
(UMI)AAI9011053

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/20610