expectations. When processing capacity is limited, these components may compete for attention. We study the hypothesis that more … severe processing constraints increase the relative reliance on coarser signals: people still discriminate between categories … that exogenously manipulate processing constraints provide supporting causal evidence in individual investor behavior. We …

processing to become common knowledge. We exploit the unique institutional setting of hacks on decentralized finance (DeFi … processing capabilities. Our central empirical finding is that substantial price discovery precedes common knowledge … informational rents. We develop a theoretical model of informed trading under processing costs which predicts strategic, slow …

This paper investigates the effects of application processing times on welfare applicants' benefit and employment … outcomes. For causal inference, we exploit exogenous variation in application processing times stemming from the random … assignment of caseworkers. Our findings indicate that longer application processing times deter applicants from receiving …

of information processing and career outcomes. …