Endogenous differential information in financial markets

We develop a two period general equilibrium model with incomplete financial markets \nand differential information. Making endogenous the traditional informational restriction on consumption, \nwe allow agents to obtain information from physical and financial markets. Thus, the \ninvestment in financial promises and the trade of commodities in spot markets appear as natural \nchannels to improve the information that an agent has about the realization of future states of \nnature.