This paper studies how the composition of income between mothers and fathers affects fertility and schooling investments in children, using data from the 1976 and 1996 PNAD, a Brazilian household survey. Income composition affects the time cost of fertility because mothers and fathers allocate...

This paper uses geography to shed light on the role of asymmetric information in asset pricing. Demonstrating that investors possess significant informational advantages in evaluating nearby investments, we find that active mutual fund managers overweight proximate firms in their portfolios and...

Many models in the economics literature deal with strategic situations with privately informed agents. In those models the information structure is assumed to be exogenous and common knowledge. In many applications information gathering is one of the strategic options available to agents. We...