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Excerpt from Collection of Information About Publicly Traded Firms: Theory and Evidence I develop a single-period model based on Verrecchia Consider an economy with one riskless bond and one risky asset (firm), both of which pay off in terms of the single consumption good in the economy at the end of the period. The numeraire in the market is the riskless bond. For each unit purchased, the bond pays off one unit and the risky asset u units of consumption good at the end of the period. The pay-off u on the risky asset is unknown until the end of the period with its realization denoted u. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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