is a random variable. Apart from regularity assumptions, there are two crucial conditions: (i) low information -- agents …

bounds for both covariances and correlations and show how such bounds can be tightened using information beyond the …

definition of dynamically consistent behavior, and we discuss whether an intrinsic information lover (say, an anxious person) is …

Decision theory and game theory are extended to allow for information processing errors. This extended theory is then … not be. Five axioms of information processing are shown to be especially important to speculation and consensus. They are … sufficient that each agent's information processing errors be nondeluded and (1) balanced so that the agents cannot agree to …

an implicit incentive effect of information rents in future financing rounds. The ex ante need to provide incentives and … the venture capitalist's desire to cut information rents ex post create a hold-up conflict, which can be overcome by …

require smaller information rents, arm's length financing amounts to an implicit commitment to a finite funding horizon. The …

in response to the arrival of information during the development of the venture. We develop three types of predictions …. Second, the investment flow reacts positively to information that arrives while the project is developed. We find that the … investment decisions are more sensitive to the information received during the development than to the information held prior to …

in response to the arrival of information during the development of the venture. We develop three types of predictions …. Second, the investment flow reacts positively to information that arrives while the project is developed. We find that the … investment decisions are more sensitive to the information received during the development than to the information held prior to …

We analyze sequential investment decisions in an innovative project that depend on the investor's information about the … positively to information that arrives while the project is developed. We find that interim information is more significant for … investment decisions than the information prior to the project launch. Third, investors distribute their investments over more …