Forthcoming Articles

Does Disagreement Facilitate Informed Trading?

J. Anthony Cookson, Vyacheslav Fos, and Marina Niessner ♦ Using high-frequency disagreement data from the investor social network StockTwits, we find that greater unsophisticated disagreement facilitates informed buying and selling. During periods of overvaluation, the facilitating effect of disagreement on…

Sentiment, Productivity, and Economic Growth

George Constantinides, Maurizio Montone, Valerio Potì, and Stella Spilioti ♦ Earlier research finds correlation between sentiment and future economic growth, but disagrees on the channel that explains this result. We shed new light on this issue by exploiting cross-sectional variation…