The Information Content of Specialist Pricing

On the impossibility of informationally efficient markets

1980 • 3,972 citations

On the aggregation of information in competitive markets

1980 • 1,192 citations

Information aggregation in a noisy rational expectations economy

1981 • 1,135 citations

Rational Expectations, Information Acquisition, and Competitive Bidding

1981 • 510 citations

Monetary mystique: Secrecy and central banking

1986 • 298 citations

Stock exchange seats as capital assets

1977 • 73 citations

The Economics of Markets: A Simple Model of the Market-Making Process

1980 • 21 citations