Transacting without pricing, pricing without transacting

weaadmin — Wed, 31 Oct 2012 23:19:24 +0000

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.

judgment – Rethinking Financial Markets

Transacting without pricing, pricing without transacting