expand to new destinations. We develop a model based on experimentation to rationalize these and other dynamic patterns of …

access to information, but all the news acquired becomes automatically public. Conditional on the information disclosed, a … incomplete but symmetric information, we show that the first individual obtains rents due to his superior ability to decide … whether to collect or forego evidence, i.e., due to his control in the generation of (public) information. We provide an …

We study the problem of a central bank whose policy actions simultaneously affect the information flow about its … information flow. Yet optimal policy is very conservative because inflation surprises yield information that increases the …

facilitating the process of experimentation that is required for the initial commercialization of technologies. This evidence also …

experimentation can lead firms to start investing abroad. …

information in investor demand co-exists with the presence of capacity constraints in hedge fund returns, confirming two main …

for private information. We charac terize optimal mechanisms and analyze specific programs often used during banking …