4min chapter

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Housing Bubble Week: A Philosophy Of Bubbles - Timo Henckel

The Joe Walker Podcast

CHAPTER

The Role of Information Asymmetry in Financial Markets

Informational asymmetries is clearly intrinsic to financial markets. The whole reason why we have so much trade is because people have different preferences or very often different expectations about what they think the future holds. If you assume that everyone has rational expectations, no one is making systematic mistakes. Then there really is no reason to trade at all because we're all pretty much alike anyway.

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