bias (systematic mistakes) or noise (unsystematic mistakes). We develop a framework for quantifying the level of noise in … structure for individual expectations. Using data from professional forecasters, we find that the magnitude of noise is large …

the quality of their vehicles. Owners of bad cars will try to sell them to unsuspecting buyers while owners of good cars … will hold on to theirs. Consequently, the quality of traded automobiles should be sub-average. In contrast to previous work … quality using a sample consisting of all 1985 cars registered in the Swiss canton of Basle-City over the period 1985-1991. Our …

The Australian Government launched the My School website in 2010 to provide standardised information about the quality … Victoria to estimate the effect of the publication of school quality information on property prices. We use a difference …-in-difference approach to estimate the causal effect of the release of information about high-quality and low-quality schools relative to …

The Australian Government launched the My School website in 2010 to provide standardised information about the quality … Victoria to estimate the effect of the publication of school quality information on property prices. We use a difference …-in-difference approach to estimate the causal effect of the release of information about high-quality and low-quality schools relative to …