allows us to observe a long panel of managerial forecast errors for a sample of firms representative of the Italian economy …. We show that managerial forecast errors are positively and significantly autocorrelated. This persistence in forecast … forecasting bias, we estimate a dynamic equilibrium model with heterogeneous firms and distorted expectations. The estimated model …

allows us to observe a long panel of managerial forecast errors for a sample of firms representative of the Italian economy …. We show that managerial forecast errors are positively and significantly autocorrelated. This persistence in forecast … forecasting bias, we estimate a dynamic equilibrium model with heterogeneous firms and distorted expectations. The estimated model …

allows us to observe a long panel of managerial forecast errors for a sample of firms representative of the Italian economy …. We show that managerial forecast errors are <i>positively and significantly</i> autocorrelated. This persistence in … forecast error is consistent with managerial underreaction to new information. To quantify the economic significance of this …

observe a long panel of managerial forecast errors for a representative sample of Italian firms with at least 20 employees. We … show that managerial forecast errors are positively and significantly autocorrelated. This persistence of forecast errors … bias, we estimate a dynamic equilibrium model with heterogeneous firms and distorted expectations. The estimated model …

earnings forecast optimism and positively associated with their forecast accuracy. Using multiple proxies for economic … incentives and cognitive biases, we find that individualism affects analyst forecast optimism and accuracy through the economic …