An analysis of business contexts in the field of empirical capital market research, especially on the stock market, has gained increasing importance. This has been driven to a large extent by the progressing globalization, liberalization and the generally evident trend of raising capital for companies via the legal form of a stock corporation.In the first chapter, the incentives to trade stocks and the information processing on the stock market are explained and then combined in a model for rational decision making under risk.In the following chapter, relevant parameters that lead to a shift in market equilibria are identified. Subsequently, the aspect of information distribution is examined in more detail and a model under simultaneous information access with heterogeneous expectations is described. The elaborated results are then subjected to an empirical investigation.The concluding remarks will address criticisms related to the model discussed.
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