FIRN Virtual Seminar Series - Thierry Foucault (HEC Paris)
Date and time
Location
Zoom
AustraliaDescription
Working with the large FIRN member institutions we have developed a virtual seminar series where all FIRN members can participate. The seminars will be via zoom and will be about an hour long, comprising presentation followed by moderated Q&A.
In collaboration with UNSW, FIRN invites you to a virtual seminar presented by Thierry Foucault (HEC Paris).
Title: Equilibrium Data Mining and Data Abundance
Abstract: We analyze how information processing power and data abundance affect speculators' search for predictors. Speculators optimally search for a predictor whose signal-to-noise ratio exceeds an endogenous threshold. Greater computing power raises this threshold, and therefore price informativeness, because it reduces the cost of search. In contrast, data abundance can lower this threshold because (i) it intensifies competition among speculators, which reduces the benefit of finding a good predictor and (ii) it increases the total expected cost of finding a predictor. In the former (latter) case, price informativeness increases (decreases) with data abundance. We present additional testable implications of these effects.
All FIRN members are welcome to this event. Please register your interest here and you will be sent an email the day before with UNSW's registration link. You will then be required to complete the UNSW registration form and will be sent an email with the zoom code immediately.
Organised by
FIRN is the premier network of finance researchers and PhD students across Australia and recently New Zealand. Researchers from all of the major schools, departments and universities who offer research programs across the various topic areas of finance are members of FIRN.
The purpose of FIRN is to provide a strong, cohesive and fiscially efficient approach toward supporting research and advancements in the Australian finance academic community. FIRN’s program of events and initiatives aims to develop better communication and networking across the sector, better research outcomes, better educated PhD students, better skilled academics, stronger international relationships and a stronger future.