. Empirical relationships between parameter estimates and price impacts and between parameter estimates and stochastic volatility … are consistent with theory. We illustrate how the estimates can be used to detect information events in the time series …

I propose a theory of information production and learning in credit markets in which the incentives to engage in … excessive optimism that fueled booms preceding financial crises and the slow recoveries that followed. In my theory, information …

academic interest in art, understanding of auction prices is limited. Price intransparency is exacerbated by contrasting … approaches in theory and practice: Theory is dominated by quantitative studies that measure the effects of individual factors … is no comprehensive theory of auction prices that combines both perspectives. To fill this gap, the author conducts three …