Arbitrage Chains

Continuous Auctions and Insider Trading

1985 • 9,651 citations

Bid, ask and transaction prices in a specialist market with heterogeneously informed traders

1985 • 6,148 citations

Noise Trader Risk in Financial Markets

1990 • 6,029 citations

Information aggregation in a noisy rational expectations economy

1981 • 1,135 citations

Herd on the Street: Informational Inefficiencies in a Market with Short‐Term Speculation

1992 • 1,072 citations

Information and Competitive Price Systems

1976 • 902 citations

Stock Prices and the Supply of Information

1991 • 584 citations

Equilibrium Short Horizons of Investors and Firms

1990 • 554 citations

Churning Bubbles

1993 • 277 citations

Price Destabilizing Speculation

1986 • 245 citations

Partially-revealing rational expectations equilibrium in a competitive economy

1990 • 94 citations

Short-Term Investment and the Informational Efficiency of the Market

1993 • 1 citations