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Zukunftsorientierte Gestaltung informationstechnologischer Netzwerke im Hinblick auf die Handlungsfähigkeit des Menschen
In: Aachener Reihe Mensch und Technik 15
In gesprek met Wim Couwenberg - 'Onze zuiderburen verdienen meer aandacht'
In: Christen-democratische verkenningen: CDV, S. 92-99
ISSN: 0167-9155
DEEL II - AMERIKA ALS SPIEGEL VOOR EUROPA - Pim Fortuyn als neo-conservatief ?
In: Christen-democratische verkenningen: CDV, Heft 3, S. 125-132
ISSN: 0167-9155
De vergrijzende Europese orde
In: Christen-democratische verkenningen: CDV, Heft 6, S. 26-36
ISSN: 0167-9155
ARTIKEL - Inzetten op het gezin
In: Christen-democratische verkenningen: CDV, Heft 3, S. 39-48
ISSN: 0167-9155
Schuivende bestuurlijke verhoudingen in Belgie en de relatie met Nederland
In: Openbaar bestuur: tijdschrift voor beleid, organisatie en politiek, Band 4, Heft 3, S. 2-9
ISSN: 0925-7322
Die Koeniglich-Niederlaendische Marine
In: Marine-Rundschau: Zeitschrift für Seewesen, Band 76, Heft 2, S. 79-85
ISSN: 0025-3294, 0720-8103
World Affairs Online
Information Choice in Macroeconomics and Finance
Most theories in economics and finance predict what people will do, given what they know about the world around them. But what do people know about their environments? The study of information choice seeks to answer this question, explaining why economic players know what they know--and how the information they have affects collective outcomes. Instead of assuming what people do or don't know, information choice asks what people would choose to know. Then it predicts what, given that information, they would choose to do. In this textbook, Laura Veldkamp introduces graduate students in economics and finance to this important new research. The book illustrates how information choice is used to answer questions in monetary economics, portfolio choice theory, business cycle theory, international finance, asset pricing, and other areas. It shows how to build and test applied theory models with information frictions and it covers recent work on topics such as rational inattention, information markets, and strategic games with heterogeneous information
Maakte Karel van het Reve taalfouten?
In: Hollands maandblad, Heft 2, S. 21-24
ISSN: 0018-3601
A Review ofIntegrity™
In: International journal of testing: IJT ; official journal of the International Test Commission, Band 8, Heft 2, S. 202-207
ISSN: 1532-7574
Media Frenzies in Markets for Financial Information
In: American economic review, Band 96, Heft 3, S. 577-601
ISSN: 1944-7981
Emerging equity markets witness occasional surges in prices (frenzies) and cross-market price dispersion (herds), accompanied by abundant media coverage. An information market complementarity can explain these anomalies. Because information has high fixed costs, high volume makes it inexpensive. Low prices induce investors to buy information that others buy. Given two identical assets, investors learn about one; abundant information reduces its payoff risk and raises its price. Transitions between low-information/low-asset-price and high-information/high-asset-price equilibria resemble frenzies. Equity data and new panel data on news coverage support the model's predictions: Asset market movements generate news and news raises prices and price dispersion.
SSRN
SSRN
Long-Run Growth of Financial Data Technology
In: American economic review, Band 110, Heft 8, S. 2485-2523
ISSN: 1944-7981
"Big data" financial technology raises concerns about market inefficiency. A common concern is that the technology might induce traders to extract others' information, rather than to produce information themselves. We allow agents to choose how much they learn about future asset values or about others' demands, and we explore how improvements in data processing shape these information choices, trading strategies and market outcomes. Our main insight is that unbiased technological change can explain a market-wide shift in data collection and trading strategies. However, in the long run, as data processing technology becomes increasingly advanced, both types of data continue to be processed. Two competing forces keep the data economy in balance: data resolve investment risk, but future data create risk. The efficiency results that follow from these competing forces upend two pieces of common wisdom: our results offer a new take on what makes prices informative and whether trades typically deemed liquidity-providing actually make markets more resilient. (JEL C55, D83, G12, G14, O33)