The ways financial analysts, traders, and other specialists use information and learn from each other are of … aggregate information and examines the impacts of specific market arrangements--or microstructure--on the aggregation process … and economic efficiency. He looks closely at information aggregation mechanisms, progressing from simple to complex …

members of an information sharingCooperative. Once collected, information about the location of productive sh-ing sites is an … excludable public good. We show that independent shermen donot internalize the full value of information and do not replicate rst …-best searchpatterns. An information sharing Cooperative faces a free-riding problem as eachmember prefers that another undertake costly …

,questions whether norm deviations can be detected and thus punished. By investing in information acquisition, aresponder in an ultimatum … can be rather high (‘high payoff mode’) orlow (‘low payoff mode’). The responder can buy information about the proposer … buy reward information (30 out of 55). Buyingreward information on average did not help the responder nor did it improve …