Arbitrage and knowledge
Abstract
I investigate in depth the contemporary, nation-wide arbitrage phenomenon of copper penny hoarding. While penny hoarding represents a “pure arbitrage” opportunity, it also clearly demonstrates the knowledge problems that face those entrepreneurs who are fully informed about intra-market price differences. This paper contrasts the Neoclassical and Austrian views on the role of information and knowledge in arbitrage, emphasizing the greater depth...
Paper Details
Title
Arbitrage and knowledge
Published Date
May 14, 2009
Volume
23
Issue
1
Pages
79 - 96
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