This paper studies the incentives of short-lived agents to acquire costly private information in the presence of public … signals arising from market interaction. It characterizes the social learning process, that is the revelation of information … by public signals, and the information externalities involved. The analysis provides insights on the scope for government …

Was 1994 a watershed? It was dawning of the information age, a period of rapid technological advance associated with … the introduction of information technologies. It also was the start of a sharp rise in income inequality and signaled the …