Dynamic information acquisition and time-varying uncertainty
This paper studies the role of information acquisition in propagating/stabilizing uncertainty shocks in a dynamic financial market. In a static world, uncertainty raises the value of information, which encourages more information acquisition. In a dynamic world, however, uncertainty can depress info...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Academic Press Inc.
2019
|
| Subjects: | |
| Online Access: | View Fulltext in Publisher |