Purpose: This study aims to address the issue of prediction of inflation differences for an economy that considers either fixing its exchange rate or joining a currency union. In this setting, individual countries have limited control over their inflation, and anticipating the possible course...

Earlier experimental evidence indicates that some decision makers under-invest in information when it is costly. This insight is applied to the cost–benefit analysis of the provision of data obtained by satellites. In fields like agriculture, remotely sensed information of great precision can...