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We analyze costly information acquisition and information revelation in groups in a dynamic setting. Even when group members have perfectly aligned interests the group may inefficiently delay decisions. When deadlines are far away, uninformed group members freeride on each others' efforts to...
Persistent link: https://www.econbiz.de/10009246605
We use a panel of annual data for over one hundred developing countries from 1971–92 to characterize currency crashes …
Persistent link: https://www.econbiz.de/10005789137