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This paper investigates an extended version of Crawford-Sobel's (1982) communication game in which the principal can …-Sobel's most informative equilibrium and optimal delegation. We then study multi-stage communication. This modification results in … truth-telling communication at every stage. Finally, we construct a mechanism in which approximately full information is …
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An entrepreneur contracts with a consultant, who is protected by limited liability, to supply information about the state of a project prior to investing in it. For a given level of investment, a good project succeeds with higher probability than a bad one. The entrepreneur makes an upfront...
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We investigate strategic information transmission with communication error, or noise. Our main finding is that adding … it possible to achieve the best payoff that can be obtained by means of any communication device. As in the model without …
Persistent link: https://www.econbiz.de/10011702289
) equilibrium. Fully informative myopic and farsighted equilibria essentially take a particular simple form: all communication is … and analyze equilibrium welfare. Furthermore, we extend our model to public communication and investigate the implications …
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FASB Interpretation No. 48 (FIN 48) requires firms to disclose a forecast of significant changes in unrecognized tax benefits (UTBs) that are reasonably possible to occur within 12 months of the reporting date. According to paragraph 21(d), the “look-forward” disclosure, a firm must disclose...
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