Journal Article The Existence of Futures Markets, Noisy Rational Expectations and Informational Externalities Get access Sanford J. Grossman Sanford J. Grossman Stanford University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 44, Issue 3, October 1977, Pages 431–449, https://doi.org/10.2307/2296900 Published: 01 October 1977 Article history Received: 01 April 1975 Accepted: 01 October 1976 Published: 01 October 1977

Sanford J. Grossman, Richard E. Kihlstrom, Leonard J. Mirman; A Bayesian Approach to the Production of Information and Learning By Doing, The Review of Economic