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The Demand for Information : More Heat than Light

Keppo, Jussi; Moscarini, Giuseppe; Smith, Lones - 2014

This paper produces a comprehensive theory of the value of Bayesian information and its static demand. Our key insight … small and large sample properties of information, and reveal some fundamental properties of demand: (a) Value 'non …-concavity': The marginal value of information is initially zero; (b) The marginal value is convex/rising, concave/peaking, then convex …

Persistent link: https://www.econbiz.de/10014066683

A Model for Financial Intermediation and Public Intervention.

Samartin, M. - Center for Operations Research and Econometrics (CORE), … - 1996

based on Chari and Jagannathan (1988), this paper models information-induced and "pure-panic"runs in an environment of … risk-aves agents. In this framework, deposits are needed to provide insurance against investors'unexpected demand for …

Persistent link: https://www.econbiz.de/10005669260

Collusion Under Asymmetric Information.

Laffont, J.J.; Martimort, D. - Groupe de Recherche en Économie Mathématique et … - 1996

Persistent link: https://www.econbiz.de/10005780423

Maximisation and the Act of Choice.

Sen, A. - Banca d'Italia - 1996

The act of choosing can influence maximizing behaviour for at least two distinct reasons: 1) process significance and 2) decisional inescapability. The constructive programme of the paper is combined with critical appraisal of the implications of these concerns for rational decisions about...

Persistent link: https://www.econbiz.de/10005780681

Multiple Risks and Asymmetric Information.

Koehl, P.F.; Villeneuve, B. - 1996

An individual confronts multiple risks she insures by independent specialized monopolies. Though the individual does not act strategically, the indirect competition between monopolies can leave her with part of the surplus. This is the case if her global risk premium is lower than the sum of...

Persistent link: https://www.econbiz.de/10005780742

Can the Theory of Incentives Explain Devcentralization?

Poitevin, M. - Centre Interuniversitaire de Recherche en Économie … - 2000

based on private information and incentives. …

Persistent link: https://www.econbiz.de/10005729594

An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation

den Berg, Gerard J van - C.E.P.R. Discussion Papers - 2007

information on the value of the IV. This leads to violation of the exclusion restriction. We analyze this in a dynamic economic …

Persistent link: https://www.econbiz.de/10005792073

Theory of argumentation in financial markets

Estrada, Fernando - Volkswirtschaftliche Fakultät, … - 2010

This paper aims to explore the relevance of the Theory of Argumentation TA in the complex area of financial reporting. Specifically, we investigated the scope of the phenomenon of persuasion in advertising. It examines advertisements in publications notable economic movement in Colombia. The...

Persistent link: https://www.econbiz.de/10008636520

An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation

Berg, Gerard J. van den - Institute for the Study of Labor (IZA) - 2007

information on the value of the IV. This leads to violation of the exclusion restriction. We analyze this in a dynamic economic …

Persistent link: https://www.econbiz.de/10005763520

A Theory of Rational Decision with Incomplete Information.

Nehring, K. - California Davis - Institute of Governmental Affairs - 1995

Persistent link: https://www.econbiz.de/10005774086