Journal of Economic Literature
Book Reviews
2026-09-01
Lawrence R. Glosten of Columbia University reviews “Information and Learning in Markets: The Impact of Market Microstructure” by Xavier Vives,. The EconLit Abstract of the reviewed work begins “Graduate-level textbook analyzes how markets aggregate information and examines the impacts of specific market arrangements on the aggregation process and overall performance of financial markets. Discusses aggregation of information in simple market mechanisms--large markets; aggregation of information in simple market mechanisms--how large is large; rational expectations and supply function competition; rational expectations and market microstructure in financial markets; strategic traders in financial markets; learning from others and herding; dynamic information aggregation; dynamic rational expectations models in competitive financial markets; and price and information dynamics in financial markets. Includes end-of-chapter exercises. Vives is Professor of Economics and Finance at the IESE Business School at the University of Navarra. Index.”