Expectations with Endogenous Information Acquisition: An Experimental Investigation
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NBER Working Paper No. 24767
---- Acknowledgments ----
We would like to thank Rudi Bachmann, Christopher Carroll, Theresa Kuchler, Kristoffer Nimark, Luigi Pistaferri, Dan Silverman, Michael Weber, and seminar attendants at the Arizona State University, Bocconi, DIW Berlin, ECB, EIEF Rome, Federal Reserve Board, Federal Reserve Bank of New York, Goethe University, Harvard, IIES Stockholm, Toulouse, UC Berkeley, UCSC Milan, University of Geneva, University of Cambridge, the GEM/BPP Workshop, CESifo Venice Summer Institute, UCSB TEC Conference, Bundesbank-Banque de France Joint Conference on Household Expectations, and the AEA Annual Meetings for useful comments. Felipe Montano Campos and Jacob French provided superb research assistance. We thank the UCLA Ziman Center for Real Estate’s Rosalinde and Arthur Gilbert Program in Real Estate, Finance and Urban Economics for funding. Fuster and Zafar were employed at the Federal Reserve Bank of New York while much of this paper was written. The views presented here are those of the authors and do not necessarily reflect those of the Swiss National Bank, the Federal Reserve Bank of New York, the Federal Reserve System, or the National Bureau of Economic Research.