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PRODID:-//Memento EPFL//
BEGIN:VEVENT
SUMMARY:Equilibrium Data Mining
DTSTART:20211210T103000
DTEND:20211210T120000
DTSTAMP:20260408T194410Z
UID:d53e19e96612ebbdc92f8c247386dade185d41c5aecb9362228cc45c
CATEGORIES:Conferences - Seminars
DESCRIPTION:Thierry Foucault\, HEC Paris\nWe analyze how computing power a
 nd data abundance affect speculators' search for predictors. Speculators o
 ptimally stop searching when they find a predictor with a signal-to-noise 
 ratio greater than an endogenous threshold. Greater computing power raises
  this threshold by reducing search costs. In contrast\, data abundance can
  reduce this threshold because (i) it reduces rents from informed trading\
 , except for the best informed speculators and (ii) it increases the avera
 ge number of trials required to find a predictor. We derive predictions re
 garding the effects of progress in information technologies on active asse
 t managers' performance\, the similarity of their holdings and the informa
 tiveness of asset prices.
LOCATION:Zoom
STATUS:CONFIRMED
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