We develop and test a frog-in-the-pan (FIP) hypothesis that predicts investors are less attentive to information … arriving continuously in small amounts than to information with the same cumulative stock price implications arriving in large … than infrequent dramatic changes and construct an information discreteness measure to capture the intensity of firm …

We test a frog-in-the-pan (FIP) hypothesis that predicts investors are inattentive to information arriving continuously … infrequent dramatic changes. Consistent with the FIP hypothesis, we find that continuous information induces strong persistent … continuous information during their formation period to -2.07% for stocks with discrete information but similar cumulative …

of canonical models of gradual information diffusion and differences of opinion. I use a unique dataset of clicks on news … trading among investors who see the same news but disagree regarding its interpretation. Consistent with gradual information …

prominent as the size decreases. The study also shows that size is not having an impact on the information content of variables …. The information content is extremely important during crisis period …