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| Author: | Burguet, R. Vives, X. |
| Title: | Social learning and costly information acquisition. |
| Journal: | Economic Theory
2000 : VOL. 15:1, p. 185-205 |
| Index terms: | Financial information systems Mergers Market theory Social environment |
| Language: | eng |
| Abstract: | The authors study the incentives of short-lived agents to aquire costly private information in the presence of public signals arising from market interaction. They characterize the social learning process, and the information externalities involved, investigating the following issues: In what sense costly information acquisition affects the basic information externality; whether it prevents learning; if it does not, how the technology to acquire information affects the convergence properties of public information. |
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