We study the impact of event-specific attention indices -- based on Google Trends in predictive price variation models before and during Russian invasion Ukraine February 2022. extend our analyses to importance geographical proximity economic openness Russia within 51 global equity markets. Our results demonstrate that 36 countries show significant conflict at onset invasion, which helps predic...

The paper presents a mathematical model of optimal investment in illiquid assets. Specifically, the model addresses the problem of an investor with limited capital resources, who makes sequential decisions on long-term investments under uncertainty as to future opportunities. The model demonstrates that such an investor will optimally demand a higher rate of return on investments in long-term, ...

Institutional investor is supposed to be more powerful than individual investor from the perspectives of regularity authority and scholar, but the results are mixed. Using the data of listed company in China, the paper presents a comparative study on the impacts of institutional investor and individual investor on investment risk. It shows that the scale and ownership of institutional investor ...

In our model, informed players decide whether or not to disclose, and observers allocate attention among disclosed signals, and toward reasoning through the implications of a failure to disclose. In equilibrium disclosure is incomplete, and observers are unrealistically optimistic. Nevertheless, regulation requiring greater disclosure can reduce observers’ belief accuracies and welfare. A stron...

Recent models of predator search behavior integrate proximate neurobiological constraints with ultimate economic considerations. These models are based on two assumptions, which we have critically examined in experiments with blue jays searching for artificial prey images presented on a computer monitor. We found, first, that when jays had to switch between searching for two distinct prey types...

This paper discusses how to improve the identification of the preference of a decision maker (DM) with limited attention proposed by Masatlioglu, Nakajima, and Ozbay (2012). Their identification method relies on choice reversals so the obtained revealed preference is often very incomplete. We propose three approaches to address this problem. The first one is accommodating to a model-free approa...