When subjects can make non-binding announcements of possible contributions to a public good numerically, there is no effect on average level of contributions in a public goods experiment relative to play without announcements. But a detailed analysis of this experiment shows that pre-play announcements increased the variance of achieved cooperation among groups, leading both to more highly coop...

We continue investigation of the effect of position in announcements of newly received articles, a single day artifact, with citations received over the course of ensuing years. Earlier work [1, 2] focused on the " visibility " effect for positions near the beginnings of announcements, and on the " self-promotion " effect associated to authors intentionally aiming for these positions, with both...

In the model a ...scal stabilisation is announced under asymmetry of information between the government and the private investors. The government could be of two types: a dry type and a wet type, according to the amount of spending cuts it decides to make. Private investors may thus lack con...dence in the stabilisation program and interest rates would be too high, re‡ecting this lack of credib...

We briefly give an overview of Dynamic Epistemic Logic (DEL), mainly in semantic terms. We focus on the simplest of epistemic actions in DEL, called public announcements. We also sketch the effect of more complex epistemic actions, and briefly show how als factual change can be modelled in the same framework. We then apply the logic of public announcements in DEL to the analysis of a knowledge ...

this research aims to investigate relationship between skewness and future stock return and the impact of information releases on this relationship. then, the data of 89 companies listed in tehran stock exchange are collected and analyzed for 2009 to 2013. furthermore, the fixed effect panel data method is used to examine the hypothesis. the results show that there exists a negative and signifi...

This paper introduces a notion of bisimulation for Artemov’s logics of evidence-based knowledge. Bisimulation allows us to study the effect of dynamic epistemic operations on language expressivity. It is shown that public announcements, a basic dynamic epistemic operation, add expressivity to the language of evidenced-based knowledge. It is also shown that public announcements are definable in ...

This paper presents a retrospective case control study of the General Practice consultation rates of 58 soldiers made voluntarily redundant. The redundees were compared over 140 days prior to the announcements of redundancy and 140 days after the announcements. No difference in consultation rates was found between the groups suggesting that voluntary redundancy in the Army has no effect on heal...

We reassess the effect of new information in the Hogs and Pigs Reports (HPR) focusing on announcements’ rationality and alternative surprises. HPR announcements are irrational estimates of final estimates, and market expectations are irrational estimates of HPR numbers. Using the market’s best forecast and incorporating final estimates, we modify conventional information measures. Despite diffe...

Estimating the effect of Federal Reserve’s announcements of Large-Scale Asset Purchase (LSAP) programs on corporate credit risk is complicated by the simultaneity of policy decisions and movements in prices of risky financial assets, as well as by the fact that both interest rates of assets targeted by the programs and indicators of credit risk reacted to other common shocks during the recent f...