Showing 1 - 10 of 39
This Paper introduces a tractable, structural model of subjective beliefs. Forward-looking agents care about expected future utility flows, and hence have higher current felicity if they believe that better outcomes are more likely. On the other hand, biased expectations lead to poorer decisions...
Persistent link: https://www.econbiz.de/10005124341
We investigate whether providers of high frequency news analytics affect the stock market. As identification, we exploit a unique experiment based on differences in news event classifications between different product releases of a major provider of news analytics. We document a causal effect of...
Persistent link: https://www.econbiz.de/10011252620
information in investor demand co-exists with the presence of capacity constraints in hedge fund returns, confirming two main …
Persistent link: https://www.econbiz.de/10008692307
information is endogenous, and jointly determined with policy opinions. We therefore estimate a causal effect of information, with … effect of better information on the willingness to accept reforms that reduce the generosity of the pension system. Finally … we do not find that exposure to media coverage of pension issues significantly improves information, possibly because …
Persistent link: https://www.econbiz.de/10005662128
This Paper analyses the effect of a possible takeover on information flows and on the terms of trade in business …
Persistent link: https://www.econbiz.de/10005662138
This paper challenges the widespread view that forward exchange premia contain little information regarding subsequent … cointegrating space. Dynamic forecasts indicate that the information in the forward premia can be used to reduce the root mean …
Persistent link: https://www.econbiz.de/10005662140
information? The answer to the first question is 'yes' and that to the second is 'under some conditions'. …
Persistent link: https://www.econbiz.de/10005666465
This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism.
Persistent link: https://www.econbiz.de/10005666727
differ as these societies have access to different amounts of information. This lack of information makes it hard to give the … right incentives to managers and entrepreneurs. We argue that differences in the amount of information arise because of the … poor economies, thus insufficient information to set the appropriate standards for firm performance. The model predicts a …
Persistent link: https://www.econbiz.de/10005667121
The decision of how best to appropriate the value of new economic knowledge is reached by individuals within the context of the decision-making process embedded in the principal-agent model and applied to organizations. Because new economic knowledge is not only imperfect but also inherently...
Persistent link: https://www.econbiz.de/10005791501