ordinary common stocks (NonREITs). Thus, information does not appear to move between the private and public asset markets in …

The properties of information, including "information uncertainty", can be understood only Bayesianly. Common … formulations that define information uncertainty in terms of just statistical "precision" (i.e. sampling variance), or any one … estimator characteristic (e.g. bias), are inadequate for generalized Bayesian analysis. Methods that deny information a Bayesian …

Before information φ arrives, market observers must be uncertain whether the stock price conditioned on φ will be … condition of efficient markets, it is shown under the mean-variance CAPM that information which makes the future value of a firm … general, information that allows better discrimination between firms leads some firms to have higher costs of capital and …

Quarterly earnings conference calls convey fundamental information, as well as manager and analyst opinion about the …

into a penalty default license. Just as penalty default rules encourage more efficient information exchange between …

The value of information is examined in a risk-sharing environment with unawareness and complete markets. Information … show with examples that public information can make some agents strictly better off at the expense of others, contrasting … the standard results of Hirshleifer [1971] and Schlee [2001] that the value of public information is negative for all when …

the addition of several new chapters on risk sharing, asymmetric information, adverse selection, signaling and moral … asymmetric information in contractual relationships. It is richly illustrated with 150 figures. It is suitable for both self …

information, equilibria are efficient, and we determine the degrees of specialization under which the specialized insurers are …