This paper provides a new set of tests on the relationship between product market competition, information processing cost, and production of information by managers. The recent regulation regarding the mandatory adoption of XBRL (eXtensible Business Reporting Language) is a natural experiment...

We estimate the effect of information and ability spillovers on sell-side analysts' quarterly EPS forecast accuracy. Using a model that relates mean peer group ability along with the analyst's own ability to the analyst's forecast accuracy, we find that spillovers from peer analysts are large,...

Over the past 12 years, financial analysts across the world have been optimistically wrong with their 12-month earnings forecasts by 25.3%. This study may be the first of its kind to assess analyst earnings forecast accuracy at all listed companies across the globe, covering 70 countries. A...

This study examines how firms' voluntary disclosure decisions are influenced by product market competition. Using separate measures to capture different dimensions of competition, I show that competition from potential entrants increases disclosure quantity while competition from existing rivals...

This article proposes a way of introducing some organization and tractability in climate science, generating more widely credible evaluations of climate science, and imposing some discipline on the processing and interpretation of climate information. I propose a two-part policy instrument...

The paper suggests a similarity function for applications of empirical similarity theory in which the notion of similarity is asymmetric. I propose defining similarity in terms of a quasimetric. I suggest a particular quasimetric and explore the properties of the empirical similarity model given...

A predictor is asked to rank eventualities according to their plausibility, based on past cases. We assume that she can form a ranking given any memory that consists of finitely many past cases. Mild consistency requirements on these rankings imply that they have a numerical representation via a...

Discrimination is a pervasive aspect of modern society and human relations. Statistical discrimination theory suggests that profit-maximizing employers should use all the information about job candidates, including information about group membership (e.g., race or gender), to make accurate...

Contemporaneous evidence of corporate revenue and profit forecasting error is provided in a different institutional context, Australian sharemarket initial public offerings. This article extends the literature on company forecast risk by incorporating new proxies for forecasting error (float...

Biased forecasts, particularly the inadequate adjustment from current values and excessive clustering, are increasingly explained as resulting from anchoring. However, experiments presented in support of this interpretation lack economic conditions, particularly monetary incentives, feedback for...