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Evidence of Decreasing Internet Entropy : The Lack of Redundancy in DNS Resolution by Major Websites and Services

Bates, Samantha - 2018

This paper analyzes the extent to which the Internet's global domain name resolution (DNS) system has preserved its distributed resilience given the rise of cloud-based hosting and infrastructure. We explore trends in the concentration of the DNS space since at least 2011. In addition, we...

Persistent link: https://www.econbiz.de/10012453397

Sources of Entropy in Representative Agent Models

Backus, David - 2011

preferences, habits, and jumps. The metrics describe the pricing kernel's dispersion (the entropy of the title) and dynamics (time … dependence, a measure of how entropy varies over different time horizons). We show how each model generates entropy and time … approximations -- clarifies the mechanisms underlying these models. It also reveals, in some cases, tension between entropy, which …

Persistent link: https://www.econbiz.de/10012461438

Behavioral Implications of Rational Inattention with Shannon Entropy

Caplin, Andrew - 2013

entropy cost functions that better match this feature of the data and that retain key simplifying features of the Shannon …

Persistent link: https://www.econbiz.de/10012459344

Rationally Inattentive Behavior : Characterizing and Generalizing Shannon Entropy

Caplin, Andrew - 2017

We provide a full behavioral characterization of the standard Shannon model of rational inattention. The key axiom is "Invariance under Compression", which identifies this model as capturing an ideal form of attention-constrained choice. We introduce tractable generalizations that allow for many...

Persistent link: https://www.econbiz.de/10012455030

Term Structures of Asset Prices and Returns

Backus, David - 2016

We explore the term structures of claims to a variety of cash flows, namely, U.S. government bonds (claims to dollars), foreign government bonds (claims to foreign currency), inflation-adjusted bonds (claims to the price index), and equity (claims to future equity indexes or dividends). The...

Persistent link: https://www.econbiz.de/10012456513

Learning and the Value of Information : Evidence From Health Plan Report Cards

Chernew, Michael - 2001

We estimate a Bayesian learning model in order to assess the value of health plan performance information and the extent to which the explicit provision of information about product quality alters consumer behavior. We take advantage of a natural experiment in which health plan performance...

Persistent link: https://www.econbiz.de/10012470127

The Information Content of International Portfolio Flows

Froot, Kenneth A. - 2001

We examine the forecasting power of international portfolio flows for local equity markets and attempt to attribute it to either better information about fundamentals on the part of international investors, or to price pressure. Price pressure is a potential explanation because flows have...

Persistent link: https://www.econbiz.de/10012470246

IPO Market Cycles : Bubbles or Sequential Learning?

Lowry, Michelle - 2000

We examine the strong cycles in the number of initial public offerings (IPOs) and in the average initial returns realized by investors who participated in the IPOs. At the aggregate level, initial returns are predictably related to past initial returns and also to future IPO volume from...

Persistent link: https://www.econbiz.de/10012470801

The Market Microstructure of Central Bank Intervention

Dominguez, Kathryn M. - 1999

One of the great unknowns in international finance is the process by which new information influences exchange rate behavior. This paper focuses on one important source of information to the foreign exchange markets, the intervention operations of the G-3 central banks. Previous studies using...

Persistent link: https://www.econbiz.de/10012471447

How Different is Japanese Corporate Finance? An Investigation of the Information Content of New Security Issues

Kang, Jun-Koo - 1994

This paper studies the shareholder wealth effects associated with 875 new security issues in Japan from January 1, 1985 to May 31, 1991. The sample includes public equity, private equity, rights offerings, straight debt, warrant debt and convertible debt issues. Contrary to the U.S., the...

Persistent link: https://www.econbiz.de/10012473999