Narrow search
Showing 1 - 10 of 192
Cover Image
Insider Trading, Stochastic Liquidity and Equilibrium Prices
Collin-Dufresne, Pierre; Fos, Vyacheslav - National Bureau of Economic Research (NBER) - 2012
We extend Kyle's (1985) model of insider trading to the case where liquidity provided by noise traders follows a general stochastic process. Even though the level of noise trading volatility is observable, in equilibrium, measured price impact is stochastic. If noise trading volatility is...
Persistent link: https://www.econbiz.de/10010581038
Cover Image
Taxpayer Search for Information: Implications for Rational Attention
Slemrod, Joel; Hoopes, Jeffrey; Reck, Daniel - National Bureau of Economic Research (NBER) - 2013
information. We find strong seasonal increases in information search around tax filing deadlines, suggesting that taxpayers seek … information to comply with tax laws. Positive correlations between stock market activity and information search and year …-end spikes in information search on capital losses suggest that taxpayers seek information for tax planning purposes. Policy …
Persistent link: https://www.econbiz.de/10010821830
Cover Image
Asymmetric Learning in Repeated Contracting: An Empirical Study
Cohen, Alma - National Bureau of Economic Research (NBER) - 2008
This paper studies a unique panel dataset of transactions with repeat customers of an insurer operating in a market in which insurers are not required by law or contract to share information about their customers' records. I use this dataset to test the asymmetric learning hypothesis that...
Persistent link: https://www.econbiz.de/10005575389
Cover Image
Days of Haze: Environmental Information Disclosure and Intertemporal Avoidance Behavior
Graff Zivin, Joshua; Neidell, Matthew - National Bureau of Economic Research (NBER) - 2008
In this paper, we investigate the dynamics of informational regulatory approaches by analyzing the impact of smog alerts issued on consecutive days on discretionary outdoor activities in Southern California. Short-run adjustments to transitory risk entail costs that are likely to influence the...
Persistent link: https://www.econbiz.de/10005828761
Cover Image
A Bound on Risk Aversion Using Labor Supply Elasticities
Chetty, Raj - National Bureau of Economic Research (NBER) - 2006
This paper shows that existing evidence on labor supply behavior places an upper bound on risk aversion in the expected utility model. I derive a formula for the coefficient of relative risk aversion (g) in terms of (1) the ratio of the income elasticity of labor supply to the wage elasticity...
Persistent link: https://www.econbiz.de/10005828841
Cover Image
You Only Die Once: Managing Discrete Interdependent Risks
Heal, Geoffrey; Kunreuther, Howard - National Bureau of Economic Research (NBER) - 2003
This paper extends our earlier analysis of interdependent security issues to a general class of problems involving discrete interdependent risks with heterogeneous agents. There is a threat of an event that can only happen once, and the risk depends on actions taken by others. Any agent's...
Persistent link: https://www.econbiz.de/10005828842
Cover Image
Executive Compensation and Incentives: The Impact of Takeover Legislation
Bertrand, Marianne; Mullainathan, Sendhil - National Bureau of Economic Research (NBER) - 1998
We investigate the impact of changes in states' anti-takeover legislation on executive compensation. We find both pay for performance sensitivities and mean pay increase for the firms affected by the legislation (relative to a control group). These findings are partially consistent with an...
Persistent link: https://www.econbiz.de/10005829045
Cover Image
The Geography of Fear
Treisman, Daniel - National Bureau of Economic Research (NBER) - 2011
Whether the danger invoked is nuclear war or genetically modified foods, far more people in some countries than in others say they are afraid. Using data from six surveys, I show that the levels of reported fear of different dangers correlate strongly across both individuals and countries. I...
Persistent link: https://www.econbiz.de/10008855516
Cover Image
CEO Overconfidence and Innovation
Galasso, Alberto; Simcoe, Timothy S. - National Bureau of Economic Research (NBER) - 2010
Are CEOs' attitudes and beliefs linked to their fims' innovative performance? This paper uses Malmendier and Tate's measure of overconfidence, based on CEO stock-option exercise, to study the relationship between a CEO's "revealed beliefs" about future performance and standard measures of...
Persistent link: https://www.econbiz.de/10008624597
Cover Image
The Role of Search in University Productivity: Inside, Outside, and Interdisciplinary Dimensions
Adams, James; Clemmons, J. Roger - National Bureau of Economic Research (NBER) - 2009
Due to improving information technology, the growing complexity of research problems, and policies designed to foster …
Persistent link: https://www.econbiz.de/10008625933