We propose a new approach to modeling the cost of information structures in rational inattention problems, the …-based cost functions, unlike mutual information, make accurate predictions about behavior in perceptual experiments. We compare … the implications of our neighborhood-based cost functions with those of a mutual-information cost function in a series of …

We consider the strategic timing of information releases in a dynamic disclosure model. Because investors don't know … trigger the immediate release of information by firms. Conversely, good market news slows the release of information by firms … preemptively disclose their own information prior to the arrival of external information. These results have implications for …

This paper studies policy in a class of economies in which information about commonly-relevant fundamentals -- such as …, the decentralized use of information can fail to be efficient either because of discrepancies between private and social … second case, inefficiency manifests itself in suboptimal social learning (low quality of information contained in …

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

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 …

Firms that are more highly levered are forced to raise capital more often, a process that generates information about … them. Of course transparency can improve the allocation of capital. However, when the information about the firm affects …

Can we identify the members of a community who are best- placed to diffuse information simply by asking a random sample …

We argue that the way premium information is communicated to consumers influences the way in which plans pass through …

is then explained using a learning model with endogenous flows of information about economic conditions. Asymmetry is … lending rates and economic activity to shocks and then delay their recovery by restricting the generation of information after …