Narrow search
Showing 1 - 10 of 7,271
Cover Image
Information Percolation in Segmented Markets
Duffie, Darrell - 2011
We calculate equilibria of dynamic double-auction markets in which agents are distinguished by their preferences and information. Over time, agents are privately informed by bids and offers. Investors are segmented into groups that differ with respect to characteristics determining information...
Persistent link: https://www.econbiz.de/10012461362
Cover Image
Endogenous Information Flows and the Clustering of Announcements
Acharya, Viral V. - 2010
We consider the strategic timing of information releases in a dynamic disclosure model. Because investors don't know whether or when the firm is informed, the firm will not necessarily disclose immediately. We show that bad market news can trigger the immediate release of information by firms....
Persistent link: https://www.econbiz.de/10012462172
Cover Image
Policy with Dispersed Information
Angeletos, George-Marios - 2007
This paper studies policy in a class of economies in which information about commonly-relevant fundamentals -- such as aggregate productivity and demand conditions -- is dispersed and can not be centralized by the government. In these economies, the decentralized use of information can fail to...
Persistent link: https://www.econbiz.de/10012465056
Cover Image
Efficiency and Welfare with Complementarities and Asymmetric Information
Angeletos, George-Marios - 2005
This paper examines equilibrium and welfare in a tractable class of economies with externalities, strategic complementarity or substitutability, and incomplete information. In equilibrium, complementarity amplifies aggregate volatility by increasing the sensitivity of actions to public...
Persistent link: https://www.econbiz.de/10012466845
Cover Image
Herd on the Street : Informational Inefficiencies in a Market with Short-Term Speculation
Froot, Kenneth A. - 1990
Standard models of informed speculation suggest that traders try to learn information that others do not have. This result implicitly relies on the assumption that speculators have long horizons, i.e, can hold the asset forever. By contrast, we show that if speculators have short horizons, they...
Persistent link: https://www.econbiz.de/10012475787
Cover Image
Do prices reveal the presence of informed trading?
Collin-Dufresne, Pierre - 2012
Using a comprehensive sample of trades by Schedule 13D filers, who possess valuable private information when they accumulate stocks of targeted companies, this paper studies whether several liquidity measures reveal the presence of informed trading. The evidence suggests that when Schedule 13D...
Persistent link: https://www.econbiz.de/10012460208
Cover Image
Overconfidence, Information Diffusion, and Mispricing Persistence
Daniel, Kent - 2018
We propose a dynamic heterogeneous agents model which generates testable hypotheses about the formation, timing and bursting of asset price bubbles in the presence of short-sale constraints, given a calibration that is consistent with momentum and reversal effects for unconstrained assets....
Persistent link: https://www.econbiz.de/10012480997
Cover Image
How will Generative AI impact Communication?
Gans, Joshua - National Bureau of Economic Research - 2024
This paper examines the impact of Generative AI (GAI) on communication through the lens of salience and signalling …. The analysis reveals that while GAI can increase communication by reducing costs, it may also disrupt traditional … pure signalling model, GAI may hinder effective communication by making it harder to distinguish high-quality messages …
Persistent link: https://www.econbiz.de/10014635653
Cover Image
Learning in the Household
Conlon, John; Mani, Malavika; Rao, Gautam; Ridley, Matthew - National Bureau of Economic Research - 2021
discovered by their wife. This is not due to a lack of communication: husbands put less weight on their wife's signals even when …
Persistent link: https://www.econbiz.de/10012533393
Cover Image
The Two Faces of Information
Gaballo, Gaetano; Ordoñez, Guillermo - National Bureau of Economic Research - 2021
In absence of insurance contracts to share risk, public information is a double-edged sword. On the one hand, it empowers self-insurance as agents better react to shocks, reducing risk. On the other hand, it weakens market-insurance as common knowledge of shocks restricts trading risk. We embody...
Persistent link: https://www.econbiz.de/10012482704