Information frictions--where a worker and her current employer know more about the worker's productivity than prospective employers--have complex equity-efficiency implications in the teacher labor market. Reducing information frictions may make it easier for effective teachers to move to their...

Banks are multidivisional organizations in which branches hold local knowledge about borrowers. Can this "soft" information be transmitted across units? Studying the population of corporate loans originated by a large commercial bank in China from 2010 to 2020, we find that when firms switch...

Banks are multidivisional organizations in which branches hold local knowledge about borrowers. Can this "soft" information be transmitted across units? Studying the population of corporate loans originated by a large commercial bank in China from 2010 to 2020, we find that when firms switch...

We initiate a questionnaire‐based stock price forecast competition to analyze participants' perception of different amounts of information and the impact on stock price estimates. The results show that providing more information increases the perceived amount of relevant information but does...