We develop a new theory of international capital flows based on dispersed in-formation across individual investors …-standing asset price behavior. We introduce information dispersion into an openeconomy dynamic general equilibrium portfolio choice … model, and emphasize twoimplications for capital flows that are speci…c to the presence of dispersed infor-mation. First …

motives, the roles and the consequences of the Jesuits as agents of information regarding China affected the European … and transmission of information. It finds that economic progress and political consolidation in Europe did result in a …

Information plays a key role in economics. According to the benchmark neoclassical model, agents require information in … order to optimize their choices. Information, however, is sometimes incomplete or asymmetric in the real world. In this … paper, we investigate the role of information for the labour-leisure choice. We conduct an information experiment wherein we …

activities. An efficient communication protocol grants complete information payoffs to all organization members, thereby … overcoming asymmetric information problems at no cost. This paper characterizes efficient protocols assuming that: (i) some …

Fiscal announcements may transfer information about the government's view of the macroeconomic outlook to the private … interpreted as negative news by the stock market whereas exogenous fiscal interventions that do not convey any information about …

subjects. Irrespective of preference types, individuals vastly overestimate the extent of income inequality. An information …