Information Choice in Macroeconomics and Finance / Laura L. Veldkamp.

Format:

Book

Author/Creator:

Veldkamp, Laura L., Author.

Language:

English

Subjects (All):

Choice (Psychology).

Information resources.

Finance--Decision making.

Finance.

Macroeconomics--Decision making.

Macroeconomics.

Genre:

Electronic books.

Physical Description:

1 online resource (vii, 168 p. ) ill. ;

Place of Publication:

Princeton, NJ : Princeton University Press, [2011]

Language Note:

English

Summary:

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. 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 Teaches how to build and test applied theory models with information frictions Covers recent research on topics such as rational inattention, information markets, and strategic games with heterogeneous information

Contents:

Frontmatter

Contents

Acknowledgments

PART I. Preliminaries

Chapter 1. Why Study Information Choice?

Chapter 2. Bayesian Updating

Chapter 3. Measuring Information Flows

Chapter 4. Games with Heterogeneous Information

PART II. Information Choice with Complementarity in Actions

Chapter 5. Disclosing Public Information

Chapter 6. Informational Inertia and Price-Setting

PART III. Information Choice with Substitutability in Actions

Chapter 7. Information Choice and Investment Choice

Chapter 8. Returns to Scale in Information

Chapter 9. Information as an Aggregate Shock

PART IV. Measurement

Chapter 10. Testing Information Theories

Chapter 11. Conclusions

References

Index

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 26. Nov 2019)

ISBN:

9781400840496

140084049X

OCLC:

1132662894