more "noise.'' As such, noise in the Treasury market can be informative and we expect this information about liquidity to …

The flow of production and use of economic information consists of the collection and processing of primary data, the … or decision-making. Each stage contributes to the return and costs, quality and errors of the information. The processes … information increases with the probability of error in the underlying data and their processing and interpretation. Many errors …

their actions and share their private information in a timely manner. This mechanism restores efficiency and suggests a …

This paper develops a signaling model in which accounting information improves real investment decisions. Pure cash … flow reporting is shown to lead to underinvestment when managers have superior information but are acting in shareholders …

The model of rational inattention with Shannon mutual information costs is increasingly ubiquitous. We introduce a new … entropy cost functions that better match this feature of the data and that retain key simplifying features of the Shannon …

Information is a fundamental component of all financial transactions and markets, but it can arrive in multiple forms …. We define what is meant by hard and soft information and describe the relative advantages of each. Hard information is … quantitative, easy to store and transmit in impersonal ways, and its information content is independent of its collection. As …

public information can be bad. However, some scrutiny of the result shows that it is actually pro transparency: except in … very special circumstances, more public information is good. Furthermore, for a conservative benchmark of equal precision … in public and private information, social welfare is higher than in a situation without public information …

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 …

A model of interest rate movements in response to new information on the money stock is developed.The model, which …