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---- Acknowledgments ----
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 Matthew Gentzkow ----
I am a member of the Toulouse Network of Information Technology, a research group funded by Microsoft.
---- Disclosure of Financial Relationships for Bryan T. Kelly ----
I, Bryan Kelly, have received consulting income in excess of $5,000 from AQR Capital.