We examine peer effects in risk taking with complete information and compare explanations for peer effects based on …

Many information structures generate correlated rather than mutually independent signals, the news media being a prime … and treat correlated information as independent. In consequence, people’s beliefs are excessively sensitive to well …-connected information sources, implying a pattern of “overshooting” beliefs. Additionally, in an experimental asset market, correlation …

measures of workers’ productivity and trustworthiness and make this information available to potential employers. Our data show …

knowledge. To assess the effect of information asymmetries on prosocial behavior, we conduct a laboratory experiment with a … a recipient. We observe subjects with heterogenous social preferences. While under symmetric information only … individuals with the same type of preferences transfer, under asymmetric information different types transfer at the same time. As …

A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing … average portfolio demand information in equilibrium if they can adjust portfolio size. More information diminishes the … endowments strongly differ from the average portfolio are worse off. Under fully revealing price, information market equilibria …

We study a general static noisy rational expectations model, where investors have private information about asset … information, in relation to the usual public learning channel. When the private learning channel is strong (weak) in relation to … results enable a precise characterization of whether information acquisition decisions are strategic substitutes or …

This paper performs a welfare analysis of economies with private information when public information is endogenously … (restricted) efficient even when feasible allocations share similar properties to the market context (e.g., linear in information ….g., prices) convey information and does not balance optimally non-fundamental volatility and the dispersion of actions. Under …