Angeletos, Marios; Lorenzoni, Guido; Pavan, Alessandro - 2010
The arrival of new, unfamiliar, investment opportunities is often associated with "exuberant" movements in asset prices … signals about the profitability of the new investment opportunities, and vice versa. In this paper, we study how such …. -- mispricing ; heterogeneous information ; information-driven complementarities ; volatility ; inefficiency, beauty contests …
