Hacker News new | ask | show | jobs
by tptacek 1061 days ago
The whole premise of price discovery is that participants in the market profit from information imbalances. The profit motive is the incentive for people to expend effort to generate and then, through price signals, disseminate information.
1 comments

No it isn't. In neoclassical economics there are no information imbalances. Everyone has access to perfect information and yet prices are formed and updated anyway.