structural model of schooling and work decisions, where individuals have imperfect information about their schooling ability and … information on their ability and productivity. Our findings indicate that the elimination of informational frictions would …

Consumers need information to compare alternatives for markets to function efficiently. Recognizing this, public … policies often pair competition with easy access to comparative information. The implicit assumption is that comparison … friction--the wedge between the availability of comparative information and consumers' use of it--is inconsequential because …

Employment matches under uncertainty are typically accompanied by opportunities for information acquisition. Workers … can acquire specific information about productivity lotteries at the firm or general information affecting their … probabilistic beliefs about work elsewhere. Enterprises can acquire specific information concerning the productivity of a particular …

resistant to retractions (the revoking of earlier information). Our experimental design allows us to identify updating from … retractions - unlearning - and to compare it with updating from equivalent new information - learning. Across different kinds of … from equivalent new information. While we document a number of well-known biases in belief updating in our data, our …

We develop online survey experiments to analyze how information about inequality and taxes affects preferences for … redistribution. Approximately 4,000 respondents were randomized into treatments providing interactive, customized information on U …

We study information substitutability in the financial market through a quasi-natural experiment: the pandemic …-triggered lockdown that has hampered people's physical interactions hence the ability to collect, process, and transmit soft information …. Exploiting the cross- sectional and time-series variations of lockdown, we investigate how the difficulty to use soft information …

money growth can be modeled as an equilibrium signaling process. The cycleis driven by temporary information asymmetries … which can arise if, for example,the government has more current information on its performance in providing for national …

case where the rules for accepting or rejecting projects are rationally determined based on the information available to …

This paper provides the foundations of a general theory of information and the capital market. We show that in a pure … gambling market, even with asymmetric information, there cannot exist an equilibrium with trade with rational individuals. We … of that irrationality. We show that the private returns to information acquisition and dissemination differ markedly from …

between agricultural productivity, research and information. The first chapter of this part is concerned with the "theory" of … the value of information. Among other things, the Bayesian learning model is used as a vehicle for describing optimal …