are found. Over time, the underlying payoffs randomly change, i.e. display some volatility , which leads agents to react …-run invariant behavior and obtain the following conclusions: (a) Only if payoff volatility is not too high can the society sustain a … dense social network. (b) The social architecture endogenously responds to increased volatility by becoming more cohesive …

. News volume and volatility amplify this attention gap. Attention appears causally related to perceived proximity: first … fewer flights after the outbreak. Finally, local attention predicts volatility, bid-ask spreads and nonlocal attention, not …