Information Aggregation, Investment, and Managerial Incentives
---- Acknowledgements -----
The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for Christian Hellwig -----
I am compensated at far more than 10000$ per year for research and consulting work with partners of Toulouse's "Institut d'Economie Industrielle". This compensation is both for direct consulting and for research on topics covered by these partnerships. In my case, the consulting is exclusively with Banque de France, but some of my research may also be used in connection with other IDEI partnerships.
Additional research support for this paper from the European Research Council is already acknowledged in the paper.
---- Disclosure of Financial Relationships for Aleh Tsyvinski -----
National Science Foundation, Einaudi Institute of Economics and Finance, Guggenheim Memorial Fellowship.