We introduce information frictions into a tractable quantitative multi-country multi-sector model with global value …' information sets with new quarterly data containing the frequencies of country-industry-specific economic news reports by 11 … information frictions are amplified by the global production network. These information frictions appear as correlated labor …

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 …

information collection affects equity analyst performance. Collection of hard information, proxied by office workday length, is … positively associated with the quantity and timeliness of analyst reports. Soft information collection, as proxied by propensity … star analyst. Both hard and soft information collection improve forecast precision, a causal result that we confirm using …

, product information improved the prediction accuracy of respondents. Turning to real-life behavior, we find that mutual funds …