information asymmetry, is undertaken, and a simple multi-factor model of deferral – involving both confidence and information …

-provision of information; while if the issuer-pays can force disclosure, it is efficient, but otherwise it leads to less revealing … information because of the systematic distortion in revealed information along with over-investment in information. We show that …

We study credible information transmission by a benevolent short-lived central bank. When externalities create a wedge … between private and social welfare, the central bank has an incentive to misreport its information. Information transmission …

Purpose – The purpose of this paper is to examine the implications of overconfidence for information acquisition and … and rational traders endogenously acquiring costly differential information. Findings – The paper shows that overconfident … traders acquire more information than do rational traders, and improve market informational efficiency by making price more …

We explore the intuitive idea that more information leads to greater dispersion of posterior beliefs about the expected …. Then, for the class of monotone information systems, we characterize the weakest information criteria that respect OS and … states. Because of OS, the information criteria induce the dispersion orders not only on the posterior expectations of states …

evidence on the effect of income risk and information acquisition on portfolio choice. …

We study the impact of information revelation on efficiency in auctions. In a constrained-efficient mechanism, i.e. a … mechanism that is efficient subject to the incentive-compatibility constraint, any additional information available to bidders …-price sealed-bid auction, revelation of information might lead to efficiency losses. …