Showing 1 - 10 of 479
account that investors' information about fundamentals driving rare downward jumps in the dividend process is not perfect …
Persistent link: https://www.econbiz.de/10009201120
infrequent information gathering (between monthly and quarterly). A quantitative assessment of the relevance of the observation …
Persistent link: https://www.econbiz.de/10008468638
We consider a model where two adversaries can spend resources in acquiring public information about the unknown state … adversaries in the equilibrium of the game. We show that, as the cost of information acquisition for one adversary increases, that …
Persistent link: https://www.econbiz.de/10008528540
In this paper we analyze a consumer choice model with price uncertainty, loss aversion, and expectation-based reference points. The implications of this model are tested in an experiment in which participants have to make a consumption choice between two sandwiches. We make use of the fact that...
Persistent link: https://www.econbiz.de/10011084678
We seed noisy information to members of a real-world social network to study how information diffusion and information … transmitted noisily. We then compare two theories of information aggregation: a naive model in which people double-count signals … source of information. We show that to distinguish between these models of aggregation, it is critical to explicitly account …
Persistent link: https://www.econbiz.de/10011201359
information on the value of the IV. This leads to violation of the exclusion restriction. We analyze this in a dynamic economic …
Persistent link: https://www.econbiz.de/10005792073
We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging … literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We … specifically consider information management in the form of acquisition of new information or disclosure of existing information …
Persistent link: https://www.econbiz.de/10005123850
We develop a model of search among substitutes for the best combination of commodity variant and price, in which the structure of search costs can be manipulated by the suppliers of these variants, e.g. by joining an existing market or opening a new one. We analyse the subgame perfect equilibria...
Persistent link: https://www.econbiz.de/10005136540
We analyse the impact of increased outside opportunities brought to consumers by access to a global market on local market performance under monopoly versus oligopoly. If consumers have to choose once where to shop we show that under all forms of organizing the local market, increased...
Persistent link: https://www.econbiz.de/10005498025
This paper offers an informational explanation for asset price booms and crashes. If market fundamentals change, but the length of this process of change is unknown, market participants try to learn about it by observing market outcomes. This learning generates a boom and a crash, which we call...
Persistent link: https://www.econbiz.de/10005504406