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We study the welfare implications of public information precision in a beauty contest framework allowing for optimal … public information precision can be welfare improving. …
Persistent link: https://www.econbiz.de/10010906357
Financial markets are to a very large extent influenced by the advent of information. Such disclosures, however, do not only contain information about fundamentals underlying the markets, but they also serve as a focal point for the beliefs of market participants. This dual role of information...
Persistent link: https://www.econbiz.de/10009764767
environments, transparency may reduce expected welfare from an ex-ante point of view: public announcements serve as a focal point …. Restricting the degree of publicity is a better-suited instrument for preventing the negative welfare effects of public …
Persistent link: https://www.econbiz.de/10010366530
environments, transparency may reduce expected welfare from an ex-ante point of view: public announcements serve as a focal point …. Restricting the degree of publicity is a better-suited instrument for preventing the negative welfare effects of public …
Persistent link: https://www.econbiz.de/10010334031
Financial markets are to a very large extent influenced by the advent of information. Such disclosures, however, do not only contain information about fundamentals underlying the markets, but they also serve as a focal point for the beliefs of market participants. This dual role of information...
Persistent link: https://www.econbiz.de/10010311978
. Whereas agents have a coordination motive to take the same position, at the social level effective market coordination per se … of publicity are a better instrument with which to prevent the negative welfare effects of public announcements than …
Persistent link: https://www.econbiz.de/10010261100
Financial markets are to a very large extent influenced by the advent of information. Such disclosures, however, do not only contain information about fundamentals underlying the markets, but they also serve as a focal point for the beliefs of market participants. This dual role of information...
Persistent link: https://www.econbiz.de/10010958606
. Whereas agents have a coordination motive to take the same position, at the social level effective market coordination per se … of publicity are a better instrument with which to prevent the negative welfare effects of public announcements than …
Persistent link: https://www.econbiz.de/10005765918
environments, transparency may reduce expected welfare from an ex-ante point of view: public announcements serve as a focal point …. Restricting the degree of publicity is a better-suited instrument for preventing the negative welfare effects of public …
Persistent link: https://www.econbiz.de/10005739690
Financial markets are to a very large extent influenced by the advent of information. Such disclosures, however, do not only contain information about fundamentals underlying the markets, but they also serve as a focal point for the beliefs of market participants. This dual role of information...
Persistent link: https://www.econbiz.de/10005550876