Federal ID: 91-6001537
ISSN: 0022-1090 (Print) | 1756-6916 (Online)
Speculation with Information Disclosure
Paolo Pasquariello and Yifei Wang ♦ Sophisticated investors frequently choose to publicly disclose private information, a phenomenon inconsistent with most theories of speculation. We propose and test a model to bridge this gap. We show that when a speculator cares…