We examine whether disagreement between managers and investors, in the context of mergers and acquisitions, affects the … information contained in bidder returns. We test the disagreement hypothesis, which posits that disagreement causes investors to … hypothesis, we find an inverse relation between bidder returns, which proxy for the degree of disagreement, and the change in the …

Survey respondents strongly disagree about return risks and, increasingly, macroeconomic uncertainty. This may have …, raising prices. More complex collateralised contracts, like CDOs, can increase prices further. In contrast, with disagreement …

uncertainty, namely (i) agents’ disagreement and (ii) time-varying volatility of fundamental growth rates. The paper shows that …Volatility risk premia compensate agents for holding assets whose payoffs correlate with times of high return variation …. This paper takes a structural approach to explain the cross-section of volatility risk premia of stocks using a Lucas …

forecast-ers. The dispersion of forecasts correlates positively with the volatility of macroeconomic variables. This suggests …

uncertainty with the dispersion of point-estimates among individual forecasters (a measure of disagreement). We also assess the … range of specific outcomes, allowing us to measure uncertainty, assess its driving forces, and compare this measure of …

uncertainty with the dispersion of point-estimates among individual forecasters (a measure of disagreement). We also assess the … range of specific outcomes, allowing us to measure uncertainty, assess its driving forces, and compare this measure of …

This paper generalizes the discussion about disagreement versus uncertainty in macroeconomic survey data by emphasizing …

uncertainty and disagreement. The resulting measures are compared with other direct measures of uncertainty, nationally and … direct measures of uncertainty. We present a simple statistical framework in which to define and interrelate measures of … internationally. A significant, sustained reduction in inflation uncertainty followed the 1997 granting of operational independence to …

The paper analyzes foreign investment and asset prices in a context of uncertainty over future government policy. The … component. We show that both the time series and the term structure of conditional volatility in general is downward sloping and … reputation. Another testable implication is that in price series without a policy reversal, implied volatility from option prices …