The arch of Gordian III at Mustis (Al Karib, Tunisia) has been the subject of scholarly work since the eighteenth century, and its dedicatory inscription has drawn the attention of antiquarians and archaeologists since the early nineteenth century. The transcription and reconstruction of its text were proposed by the editors of the eighth volume of the Corpus Inscriptionum Latinarum in numbers 1577 and 15572. This version has prevailed in scientific literature ever since, even though Beschaouch announced in a short note in 1969 the discovery of a fourth block that substantially alters the information it contains. However, a comprehensive study of the complete inscription was never published due to the lack of graphic material. Thanks to the drawing by J. Vérité, the architect in charge of the monument's restoration, we can analyse the inscription as a whole. We conclude that the proposal by the CIL editors is incorrect, we provide the complete transcription of the epigraph, and we propose a new date for the dedication of the arch, in 240 AD.

A noisy rational expectations model of asset trading is extended to incorporate costs of information acquisition and expectation formation. Because of the information costs, how much information to acquire becomes an important decision. Agents make this decision by choosing an expectations strategy about the future value of information. Because expectation formation is costly, agents often choose strategies that are simpler (and thus cheaper) than rational expectations. The model's dynamics can be expressed in terms of the market precision, which represents the amount of information acquired by the average agent. Under certain conditions, market precision follows an unstable and highly irregular time path. This irregularity directly affects observable market quantities. In particular, simulated time series for return volatility and trading volume display a copersistence similar to that found in actual financial data.