Alice Hsiaw, Ing-Haw Cheng Nov 14,2022
Working Paper No.00047-01
Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More
Qing Liu, Lucy White Andrea Buffa Nov 18,2022
Working Paper No.00073-01
Agents working together to produce a joint output care about each other’s incentives. Because real world contracts are typically private... Read More
Efstathios Avdis Mar 15,2017
Working Paper No.00013-00
In dynamic financial markets the stochastic supply of risky assets has a significant informational role. Contrary to static models, where... Read More
Published: Journal of Financial Economics, 2016, 122(), 568-584