Access the full text.
Sign up today, get DeepDyve free for 14 days.
Ohlson Ohlson, Buckman Buckman (1981)
“Towards a Theory of Financial Accounting.”Journal of Accounting Research
J. Marschak, R. Radner (1972)
Economic theory of teams
James Ohlson, A. Buckman (1981)
Toward A Theory Of Financial Accounting - Welfare And Public InformationJournal of Accounting Research, 19
Robert Wilson (1975)
Informational Economies of ScaleThe Bell Journal of Economics, 6
E. Fama, A. Laffer (1971)
Information and Capital MarketsThe Journal of Business, 44
N. Hakansson., J. Kunkel, James Ohlson (1982)
Sufficient and Necessary Conditions for Information to Have Social Value in Pure ExchangeJournal of Finance, 37
J. Jaffe (1975)
On the Use of Public Information in Financial MarketsJournal of Finance, 30
David Ng (1975)
Information accuracy and social welfare under homogeneous beliefsJournal of Financial Economics, 2
J. Marshall (1974)
Private Incentives and Public InformationThe American Economic Review, 64
Sanford Grossman (1977)
A characterization of the optimality of equilibrium in incomplete marketsJournal of Economic Theory, 15
J. Hirshleifer (1971)
The Private and Social Value of Information and the Reward to Inventive ActivityThe American Economic Review, 61
R. Starr (1973)
Optimal Production and Allocation under UncertaintyQuarterly Journal of Economics, 87
David Ng (1977)
PARETO-OPTIMALITY OF AUTHENTIC INFORMATIONJournal of Finance, 32
ABSTRACT Conditions are derived under which all consumers in a production and exchange economy will prefer (at least weakly) disclosure of public information to no such disclosure. The conditions involve consumer endowments, the allocative efficiency of the financial market, and value maximizing behavior by firms. Cases exist where consumers will prefer disclosure of public information in a production and exchange economy, although they would be indifferent to such disclosure in an otherwise similar pure exchange economy. The difference in results is due purely to the fact that in production and exchange economies, information may be used to reallocate resources across time and firms, thus highlighting the fundamental difference between the role of information in pure exchange and in production and exchange economies.
The Journal of Finance – Wiley
Published: Sep 1, 1982
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.