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Among the most puzzling observations for the euro money market are the bid shading in the weekly refinancing operations and the development of interest rate spreads. To explain these observations, we considera standard divisible-good auction à la Klemperer and Meyer (1989) with uniform or...
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only to report more precise information on those aspects covered by the survey, such as the number and diversity of other …
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Environmental resources constitute the 'raw materials' for tourism. This sector represents the driving force behind the economy of small islands. The sustainable use and a rational policy of conservation of these resources are prerequisites to enable their full exploitation. However, island...
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expansions and recessions. We find that the information content of macroeconomic announcements is mostimportant when it contains …
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We consider a multi-period rational expectations model in which risk-averse investors differ in their information on … expected utility than outsiders. Yet, information acquisition by one investor exerts a negative externality on other investors …. Thus, investors' average welfare is maximal when access to price information is rationed. We show that a market for price …
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objective crime trends could have on such perceptions. The results show that information improves perceptions of safety and … police effectiveness, and lowers distrust in the police. However, the information treatment is not able to impact those with …
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