F
Francesco Sangiorgi
Researcher at Frankfurt School of Finance & Management
Publications - 26
Citations - 770
Francesco Sangiorgi is an academic researcher from Frankfurt School of Finance & Management. The author has contributed to research in topics: Credit rating & Bond credit rating. The author has an hindex of 12, co-authored 25 publications receiving 730 citations. Previous affiliations of Francesco Sangiorgi include Pompeu Fabra University & Stockholm School of Economics.
Papers
More filters
Journal ArticleDOI
Credit-Rating Shopping, Selection and the Equilibrium Structure of Ratings
TL;DR: In this article, the authors examine the influence of the correlation on the extent of ratings shopping and bias and highlight the interaction between the decision about whether to rely on unsolicited ratings and the potential for ratings shopping.
Journal ArticleDOI
Overconfidence and Market Efficiency with Heterogeneous Agents
TL;DR: In this article, the authors study financial markets in which both rational and overconfident agents coexist and make endogenous information acquisition decisions, and demonstrate the following irrelevance result when a positive fraction of rational agents (endogenously) decides to become informed in equilibrium, prices are set as if all investors were rational.
Posted Content
Overconfidence and market efficiency with heterogeneous agents
TL;DR: In this paper, the authors study financial markets in which both rational and overconfident agents coexist and make endogenous information acquisition decisions, and demonstrate the following irrelevance result: when a positive fraction of rational agents (endogeneously) decides to become informed in equilibrium, prices are set as if all investors were rational, and as a consequence the overconfidence bias does not a ect informational efficiency, price volatility, rational traders' expected profits or their welfare.
Journal ArticleDOI
Uncertainty, Information Acquisition and Price Swings in Asset Markets
TL;DR: The authors analyzes costly information acquisition in asset markets with Knightian uncertainty about the asset fundamentals and shows that when uncertainty is high enough, information acquisition decisions become strategic complements and lead to multiple equilibria.
Journal ArticleDOI
Uncertainty, Information Acquisition and Price Swings in Asset Markets
Antonio Mele,Francesco Sangiorgi +1 more
TL;DR: This article studied asset markets in which ambiguity averse investors face Knightian uncertainty about the fundamentals, and coexist with agents who have resolved their uncertainty, although not risk, as a result of a rational information acquisition process.