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Digital goods are bit strings, sequences of 0s and 1s, that have economic value. They are distinguished from other goods by five characteristics: digital goods are non-rival, infinitely expansible, discrete, aspatial, and recombinant. The New Economy is one where the economics of digital goods...
Persistent link: https://www.econbiz.de/10005067419
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