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F Allen, D Gale - Journal of financial intermediation, 1999 - Elsevier

Diversity of opinion and financing of new technologies.

diversity

Allen

GSID: ZzCgSMVrOcAJ

Excerpt

The objective of this paper is to compare the effectiveness of financial markets and financial intermediaries in financing new industries and technologies in the presence of diversity of opinion. In markets, investors become informed about the details of the new industry or …

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