decision variable. In this paper, we develop a simple model which introduces infrequent information in a kinked adjustment cost …

on the market perception of the media's ability to receive correct information: it is positive if and only if news is … potentially useful for the voting decision. When the media receives information which contradics commonly shared priors, it either … reports this information or it confirms the priors: "most likely, my information is correct, but my potential buyers may be …

their decision variable. In this paper, we develop a simple model which introduces infrequent information in a kinked …. Periodic releases of macroeconomic statistics or dividend announcements are examples of such infrequent information arrivals … results differ substantially from the ones obtained with full information adjustment cost models. …