NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Endogenous Information Flows and the Clustering of Announcements

Viral V. Acharya, Peter M. DeMarzo, Ilan Kremer

NBER Working Paper No. 16485
Issued in October 2010

---- Acknowledgements -----

A part of this study was undertaken while Viral Acharya was visiting Stanford-GSB. The authors are grateful to Ann Beyer, Martin Dierker (discussant), Mike Fishman, Jennifer Huang (discussant), Jacob Sagi, Jenny Tucker, Florin Vasvari and Laura Veldkamp (discussant) for useful discussions, and to seminar participants at several universities and conferences for useful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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