Abstract
Investors can increase their payoff by acquiring information on rates of return. The value of the information is greater, the greater the amount to be invested. Therefore, information purchased and consequently the expected rate of return increases with initial wealth, and the distribution of final wealth is more unequal than that of initial wealth.
Publisher
Cambridge University Press (CUP)
Subject
Industrial and Manufacturing Engineering,Management Science and Operations Research,Statistics, Probability and Uncertainty,Statistics and Probability
Reference6 articles.
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