Showing 1 - 10 of 57
This paper presents a new method to detect informed trading activities in the options markets.An option trade is identified as informed when it is characterized by an unusual largeincrement in open interest and volume, induces large gains, and is not hedged in the stock market.For the period...
Persistent link: https://www.econbiz.de/10005868704
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 …
Persistent link: https://www.econbiz.de/10005868844
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 …
Persistent link: https://www.econbiz.de/10005870547
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 …
Persistent link: https://www.econbiz.de/10013394345
In this work we study the case of agents willing to engage in a Renewable Energy Community (REC). The municipality – being the promoter of the REC – burdens all the investment costs (RE plants, storage, local grid interventions) and entrusts an aggregator of its operation paying a fixed...
Persistent link: https://www.econbiz.de/10013470528
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 …
Persistent link: https://www.econbiz.de/10013470530
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 …
Persistent link: https://www.econbiz.de/10013479464
subjects. Irrespective of preference types, individuals vastly overestimate the extent of income inequality. An information …
Persistent link: https://www.econbiz.de/10014468203
We provide a new characterization of AGM belief revision in terms of a Kripke-Stalnaker-Lewis semantics. We consider pointed frames consisting of a set of states, a distinguished state interpreted as the actual state, a Kripke belief relation and a Stalnaker-Lewis selection function. Adding a...
Persistent link: https://www.econbiz.de/10014474493
We provide a new characterization of both belief update and belief revision in terms of a Kripke-Lewis semantics. We consider frames consisting of a set of states, a Kripke belief relation and a Lewis selection function. Adding a valuation to a frame yields a model. Given a model and a state, we...
Persistent link: https://www.econbiz.de/10014474494