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UID:20250313T085938EDT-9234SCBE78@132.216.98.100
DTSTAMP:20250313T125938Z
DESCRIPTION:Eduardo Davila\n\nYale University \n\nProbability Pricing and t
 he Value of Information \n\nDate: Friday\, December 6\, 2024\n	Time: 10:30-
 11:45 am\n	Location: Bronfman Bldg. (1001 Sherbrooke St. West)\, Room 340\n
 \nAll are cordially invited to attend.\n\nAbstract:\n\nThis paper presents
  a framework for evaluating the welfare implications of changes in informa
 tion in general environments. By combining conventional cash-flow pricing 
 with the newly introduced notion of probability pricing\, we provide a uni
 fied metric to assess the marginal value of changes in consumption\, proba
 bilities\, and information structures. This framework enables the decompos
 ition of efficiency gains using tools from welfare economics. We present t
 hree applications that illustrate how the new approach can be used to revi
 sit existing results and derive new results: i) the classic principal-agen
 t model\, ii) a foreknowledge model\, where public information may destroy
  insurance opportunities\, and iii) a competitive Rational Expectations Eq
 uilibrium model\, where prices aggregate dispersed information held by inv
 estors.\n
DTSTART:20241206T153000Z
DTEND:20241206T164500Z
LOCATION:Room 340\, Bronfman Building\, CA\, QC\, Montreal\, H3A 1G5\, 1001
  rue Sherbrooke Ouest
SUMMARY:Desmarais Global Finance Research Centre (DGFRC) Seminar: Eduardo D
 avila
URL:/desautels/channels/event/desmarais-global-finance
 -research-centre-dgfrc-seminar-eduardo-davila-361599
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