Uncertainty Shocks, Learning from Prices and Costly Information Acquisition

A general equilibrium model is presented in which individuals can learn about the realization of a payoff relevant latent random variable at a cost or extract information embedded in prices. While only partially revealing the realization of the latent random variable, equilibrium prices fully reveal realized payoff risk and, when only updated by observation of prices, posterior uncertainty is state-dependent. Equilibrium is constrained efficient

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Year of publication:	[2023]
Authors:	Wong, Jacob
Publisher:	[S.l.] : SSRN
Subject:	Risiko \| Risk \| Schock \| Shock \| Theorie \| Theory \| Informationsverhalten \| Information behaviour \| Informationsversorgung \| Information provision \| Informationskosten \| Information costs \| Informationsökonomik \| Economics of information

Extent:	1 Online-Ressource (9 p)
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.4462426 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014347903