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Information Diversity and Market Behavior

The Journal of Finance, 1982
ABSTRACTThe paper addresses two major issues raised by information diversity in a speculative market. First, we analyze what property of an investor's information leads to an expected speculative profit and show that independence is more important than accuracy. Second, we consider whether the market price must become fully efficient, in the sense that
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Information behavior

Annual Review of Information Science and Technology, 2009
Karen E. Fisher, Heidi E. Julien
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Information, measurability, and continuous behavior

Journal of Mathematical Economics, 2002
The author consider a decision-making problem under uncertainty. The main result of this paper is to establish the continuity of the measurability constraint which arises in such problems.
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Conversation, Information, and Herd Behavior [PDF]

open access: possibleAmerican Economic Review, 1995
Experimental evidence shows that an important reason why people tend to imitate others, to exhibit "herd behavior" is that they assume that the others have information that justifies their actions. The information cascade models of Banerjee [1992] and Bikhchandani et al.
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Information theory and behavior

The European Physical Journal Special Topics, 2020
The quantal response behavior widely observed in experiments and observations of human and animal behavior can be derived as expected payoff maximization subject to a constraint on the entropy of the subject’s behavior mixed strategy. The Lagrange multiplier corresponding to the entropy constraint is an agent’s “behavior temperatureˮ.
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Information behavior

Annual Review of Information Science and Technology, 2006
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