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Which News Moves Stock Prices? A Textual Analysis

Boudoukh, Jacob - 2013

A basic tenet of financial economics is that asset prices change in response to unexpected fundamental information. Since Roll's (1988) provocative presidential address that showed little relation between stock prices and news, however, the finance literature has had limited success reversing...

Persistent link: https://www.econbiz.de/10013087888

Words in Patents : Research Inputs and the Value of Innovativeness in Invention

Packalen, Mikko - 2014

Intelligently allocating research effort and funds requires deciding whether to build on recent advances or on more established knowledge. When recent advances create superior opportunities for invention, their adoption as research inputs in the invention process promotes technological progress....

Persistent link: https://www.econbiz.de/10013065176

Text as Data

Gentzkow, Matthew - 2017

An ever increasing share of human interaction, communication, and culture is recorded as digital text. We provide an introduction to the use of text as an input to economic research. We discuss the features that make text different from other forms of data, offer a practical overview of relevant...

Persistent link: https://www.econbiz.de/10012960163

Text Selection

Kelly, Bryan T. - 2019

Text data is ultra-high dimensional, which makes machine learning techniques indispensable for textual analysis. Text is often selected—journalists, speechwriters, and others craft messages to target their audiences' limited attention. We develop an economically motivated high dimensional...

Persistent link: https://www.econbiz.de/10012858404

Organization of Disaster Aid Delivery : Spending Your Donations

Henderson, J. Vernon - 2012

This paper analyzes how different organizational structures between funding and implementing agencies affect the quality of aid delivered and social agendas pursued across neighboring villages in a set disaster context. We model the implied objective functions and trade-offs concerning aid...

Persistent link: https://www.econbiz.de/10013113102

Fraternity Membership and Binge Drinking

DeSimone, Jeffrey S. - 2010

This paper examines the relationship between membership in social fraternities and sororities and binge drinking among 18-24 year old full-time four-year college students who participated in the 1995 National College Health Risk Behavior Survey. To deal with unobserved heterogeneity in binge...

Persistent link: https://www.econbiz.de/10012760701

Open Source Software : The New Intellectual Property Paradigm

Maurer, Stephen M.; Scotchmer, Suzanne - 2021

Open source methods for creating software rely on developers who voluntarily reveal code in the expectation that other developers will reciprocate. Open source incentives are distinct from earlier uses of intellectual property, leading to different types of inefficiencies and different biases in...

Persistent link: https://www.econbiz.de/10013240651

Collaboration, Stars, and the Changing Organization of Science : Evidence from Evolutionary Biology

Agrawal, Ajay K. - 2014

We report a puzzling pair of facts concerning the organization of science. The concentration of research output is declining at the department level but increasing at the individual level. For example, in evolutionary biology, over the period 1980 to 2000, the fraction of citation-weighted...

Persistent link: https://www.econbiz.de/10013062172

Credit History : The Changing Nature of Scientific Credit

Gans, Joshua S. - 2014

This paper considers the role of the allocation of scientific credit in determining the organization of science. We examine changes in that organization and the nature of credit allocation in the past half century. Our contribution is a formal model of that organizational choice that considers...

Persistent link: https://www.econbiz.de/10013062483

Organizing Growth

Garicano, Luis - 2015

(learning how to use the current technology). Exploitation requires the development of organizations to coordinate the work of … experts, which takes time. The costs and benefits of such organizations depend on the cost of communicating and acquiring … through organizations increases relative to the payoff of new radical innovations …

Persistent link: https://www.econbiz.de/10012750290