We investigate the dynamics of prices, information and expectations in a competitive, noisy, dynamic asset pricing … only if traders over- (under-) rely on public information with respect to optimal statistical weights. Both phenomena, in … uncertainty, over-reliance on public information obtains if noise trade displays low persistence. This defines a Keynesianʺ region …

public information. We argue that, when trading frequencies differ across traders, asset prices reflect investors' Higher … Order Expectations (HOEs) about the two factors that influence the aggregate demand: fundamentals information and liquidity …-rely on public information, the market displays high illiquidity, and low volume of informational trading; conversely, when …

This paper proposes a new double-question survey method that elicits information about how individuals …

. Uncertainty, in contrast, increases the response. We rationalize our findings in a model of imperfect information. In the model …

We examine whether the desire for more information is people's dominant motive for reading economic and political news … experimentally vary people's beliefs about the informativeness of news. Inconsistent with the desire for more information being the … information reduce their demand for news from this newspaper. Furthermore, treated respondents who think that a news outlet is …

structure of information. Using a novel and purposefully simple set-up, we experimentally analyze preferences for information … along four dimensions. We find evidence that the majority of subjects prefers receiving information sooner. This preference …) consumption events, later information becomes more attractive. We also identify an aversion towards piecemeal information …