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Why is capital slow moving? Liquidity hysteresis and the dynamics of limited arbitrage

James Dow,Jungsuk Han, Francesco Sangiorgi   Sep 20,2018

Will arbitrage capital flow into a market experiencing a liquidity shock, mitigating the adverse effect of the shock on price... Read More

The Market for Conflicted Advice

Briana Chang , Martin Szydlowski   Sep 21,2018

We present a model of the market for advice in which advisers have conflicts of interest and compete for... Read More

The Market for Conflicted Advice

Briana Chang , Martin Szydlowski   Sep 21,2018

We present a model of the market for advice in which advisers have conflicts of interest and compete for... Read More

The Market for Conflicted Advice

Briana Chang , Martin Szydlowski   Sep 21,2018

We present a model of the market for advice in which advisers have conflicts of interest and compete for... Read More

Trust in Signals and the Origins of Disagreement

Alice Hsiaw, Ing-Haw Cheng   Dec 14,2018

Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More

Trust in Signals and the Origins of Disagreement

Alice Hsiaw, Ing-Haw Cheng   Dec 14,2018

Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More

Trust in Signals and the Origins of Disagreement

Alice Hsiaw, Ing-Haw Cheng   Dec 14,2018

Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More

Trust in Signals and the Origins of Disagreement

Alice Hsiaw, Ing-Haw Cheng   Dec 14,2018

Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More

Trust in Signals and the Origins of Disagreement

Alice Hsiaw, Ing-Haw Cheng   Dec 14,2018

Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More

Compensation in High Finance: A Theory of Periodic Labor Markets and Guaranteed Bonuses

Brian Waters , Edward Van Wesep   Dec 17,2018

We present a general equilibrium model of labor market ows that features a periodic equilibrium in which turnover is high... Read More