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Endogenous public information and welfare

Vives, Xavier - 2011

Persistent link: https://www.econbiz.de/10009238491

Endogenous public information and welfare

Vives, Xavier - 2011

This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. We find that equilibrium is not (restricted) efficient even when feasible...

Persistent link: https://www.econbiz.de/10009153832

Endogenous public information and welfare

Vives, Xavier - 2011

Persistent link: https://www.econbiz.de/10009259934

Back to the future : economic rationality and maximum entropy prediction

Barde, Sylvain - 2012

An information-theoretic thought experiment is developed to clarify why the maximum entropy methodology is appropriate … enables the use of maximum entropy to make predictions concerning the equilibrium state. Finally an illustration of this … predictive power is provided through an application to the Schelling model of segregation. -- Information entropy ; knapsack …

Persistent link: https://www.econbiz.de/10009532152

Is beauty contagious? : how higher-order uncertainty can drive asset prices

Jann, Ole - 2019

I show how irrational ideas and rumors can drive asset prices - not because anyone believes them, but because they are commonly known without being common knowledge. The phenomenon is driven by short-term market participants who are well-informed about the information that others have, and who...

Persistent link: https://www.econbiz.de/10012304729