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The asimmetric information in the financial market
Abstract
In the present work the authors study the asymmetric information in the financial markets. They examine a financial market model in which four agents trade. The model include n Brownian Motions. The first agent knows all information, the second agent knows minimun information, the third and the fourth agents know only partial information. The model analizes the different informations of the four agents and compares their logarithmic utility functions. The filtration of the fisrt agent is larger. It is initially specified. The filtration of the third and the fourth agents is smaller and the dynamics is non-Markovian. The model studies the logarithmic utility functions of the four agents.
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