Supreme Court Upholds Affirmative Action Program at University of Texas. Abigail Fisher, right, with Edward Blum, director of the Project on Fair Representation, left the Supreme Court in Washington after oral arguments in her case last December. Her case argued the University of Texas, Austin, had denied her admission based on her race.
Insider Trading. Insider trading is a poorly defined concept with roots in adverse selection theory and the efficient market hypothesis (EMH). The popular notion is that insiders have an unfair advantage because they possess materially significant and non-public information â an informational asymmetry.
For other uses, see Inside Information (disambiguation). Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) by individuals with access to nonpublic information about the company. In various countries, some kinds of trading based on insider information is illegal.