. The imperfect information is endogenized using a variant of the theory of quot;rational inattentionquot; proposed by Sims …

We develop measures of time-varying risk aversion and economic uncertainty that are calculated from financial variables …

, while the time span of the data remains fixed, and the cross-sectional dimension is fixed or increasing. We derive a Central … Limit Theorem (CLT) for the cross-sectional beta dispersion at a point in time, enabling us to test whether this quantity … beta dispersion, as a function of time-of-day, changes across days. We extend this further by developing inference …

have different validity across time (e.g., banking, borrowing, and seasons) and space (e.g., zonal restrictions), and …

resulting from finite horizons, and crucially dependent on the length of time until the debt is repaid. Also, anticipated …

these incremental bidders at a price below their reserve, with no time to respond. As a consequence, these incremental …