{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2011:E7EAQAM5NXMH5FFU5F4O2G4CRF","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"a7e6576014f1b593b431fcffb1df996a3900f668cdb96667408f4fe83a4fdcfc","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2011-03-04T13:26:47Z","title_canon_sha256":"55f1577dd8353cbf3a3fd1951b20308e27483fe0c8216471850025a9b4e16f25"},"schema_version":"1.0","source":{"id":"1103.0894","kind":"arxiv","version":1}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1103.0894","created_at":"2026-05-18T04:27:26Z"},{"alias_kind":"arxiv_version","alias_value":"1103.0894v1","created_at":"2026-05-18T04:27:26Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1103.0894","created_at":"2026-05-18T04:27:26Z"},{"alias_kind":"pith_short_12","alias_value":"E7EAQAM5NXMH","created_at":"2026-05-18T12:26:26Z"},{"alias_kind":"pith_short_16","alias_value":"E7EAQAM5NXMH5FFU","created_at":"2026-05-18T12:26:26Z"},{"alias_kind":"pith_short_8","alias_value":"E7EAQAM5","created_at":"2026-05-18T12:26:26Z"}],"graph_snapshots":[{"event_id":"sha256:d46b5cd83e5c7974acf4ce307e3dcc516298cad50ad22acc66c8eeb5ade18d9b","target":"graph","created_at":"2026-05-18T04:27:26Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"In this paper, we present a multi-period trading model in the style of Kyle (1985)'s inside trading model, by assuming that there are at least two insiders in the market with long-lived private information, under the requirement that each insider publicly discloses his stock trades after the fact. Based on this model, we study the influences of \"public disclosure\" and \"competition among insiders\" on the trading behaviors of insiders. We find that the \"competition among insiders\" leads to higher effective price and lower insiders' profits, and the \"public disclosure\" makes each insider play a m","authors_text":"Fuzhou Gong, Hong Liu","cross_cats":[],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2011-03-04T13:26:47Z","title":"Inside Trading, Public Disclosure and Imperfect Competition"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1103.0894","kind":"arxiv","version":1},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:05846092bae3c59ad10e2718df9b46f0fb09a2252451407546b1bdfd3426655c","target":"record","created_at":"2026-05-18T04:27:26Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"a7e6576014f1b593b431fcffb1df996a3900f668cdb96667408f4fe83a4fdcfc","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2011-03-04T13:26:47Z","title_canon_sha256":"55f1577dd8353cbf3a3fd1951b20308e27483fe0c8216471850025a9b4e16f25"},"schema_version":"1.0","source":{"id":"1103.0894","kind":"arxiv","version":1}},"canonical_sha256":"27c808019d6dd87e94b4e978ed1b8289774fc1fb762cceb0dd98926c3647d64b","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"27c808019d6dd87e94b4e978ed1b8289774fc1fb762cceb0dd98926c3647d64b","first_computed_at":"2026-05-18T04:27:26.063840Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T04:27:26.063840Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"Obe3nCYIDVu5hZotWYHlB5cvb2gUN4NkgYpDrRZutnzH8qEFoV3uxSBVQpm/L03o731r/EYyVq8Oj9oxt0sXAw==","signature_status":"signed_v1","signed_at":"2026-05-18T04:27:26.064336Z","signed_message":"canonical_sha256_bytes"},"source_id":"1103.0894","source_kind":"arxiv","source_version":1}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:05846092bae3c59ad10e2718df9b46f0fb09a2252451407546b1bdfd3426655c","sha256:d46b5cd83e5c7974acf4ce307e3dcc516298cad50ad22acc66c8eeb5ade18d9b"],"state_sha256":"89994708be940d0bec9f723f6805b5c3ee76d2aac52c2da15930c8dfe0451a3c"}