DO BETTER INFORMED INVESTORS ALWAYS DO BETTER? A BUYBACK PUZZLE

We explore the value of private investment information using data from a singular source: auctions of yearling racehorses. Horse breeders possess superior information about their own horses and have strong financial incentives to buy the best of these back at auction. However, those they repurchase...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	Economic inquiry 2018-10, Vol.56 (4), p.2137-2157
Hauptverfasser:	Boyle, Glenn, Ward, Gerald
Format:	Artikel
Sprache:	eng
Schlagworte:	Auctions Bias Economic aspects Financial incentives Horse breeders Horses Knowledge Marketing Planning Racing
Online-Zugang:	Volltext
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