This paper reviews the literature examining how costs of monitoring for, acquiring, and
analyzing firm disclosures–collectively,“disclosure processing costs”–affect investor …

Errors in probabilistic reasoning have been the focus of much psychology research and are
among the original topics of modern behavioral economics. This chapter reviews theory and …

This paper synthesizes what economists have learned about human capital since Becker
(1962) into four stylized facts. First, human capital explains at least one-third of the variation …

Abstract Information provision experiments allow researchers to test economic theories and
answer policy-relevant questions by varying the information set available to respondents …

We study whether carbon emissions affect the cross-section of US stock returns. We find that
stocks of firms with higher total carbon dioxide emissions (and changes in emissions) earn …

Politics may color interpretations of facts, and thus perceptions of risk. We find that a higher
share of Trump voters in a county is associated with lower perceptions of risk during the …

Strong regulatory actions are needed to combat climate change, but climate policy
uncertainty makes it difficult for investors to quantify the impact of future climate regulation …

Does immigration change support for redistribution? We design and conduct large-scale
surveys and experiments in six countries to investigate how people perceive immigrants and …

Inattention is a central, unifying theme for much of behavioral economics. It permeates such
disparate fields as microeconomics, macroeconomics, finance, public economics, and …

We study the rationality of individual and consensus forecasts of macroeconomic and
financial variables using the methodology of Coibion and Gorodnichenko (2015), who …