Transacting without pricing, pricing without transacting

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Please cite the paper as:
&lquo;Jacques-Olivier Charron, (2012), Transacting without pricing, pricing without transacting, World Economics Association (WEA) Conferences, No. 3 2012, Rethinking Financial Markets, 1st November to 31st December, 2012&rquo;

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Abstract

The paper argues in favor of a radical disconnection between the exchange function and the valuation function of financial markets. It defends it from an investee’s point of view, mainly on the grounds that valuing financial assets is a matter of judgment.


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