information at the principal's advantage, we test experimentally the principal's willingness to bias (overestimate or under …) principals do bias information, ii) agents trust the cheap-talk messages they receive and adjust their effort accordingly …

well-known phenomenon, namely the existence of a positive bias in experts' anticipations: the latter tend to over …-estimate earnings. In this paper, we study the properties of this bias according to various aspects, that is to say according to country …

The recent period has highlighted a well-known phenomenon, namely the existence of a positive bias in experts … contributions are twofold: we provide explanatory bias prediction models which will subsequently allow the calculation of earnings … adjusted forecasts, for horizons from 1 to 24 months. We explain the bias using macroeconomic as well as sector and firm …

&D, advertising and the competitive environment.The empirical findings confirm the predictions of a dynamic model that complements … advertising in order to extract maximal rents; thus, lower costs of ads may favor R&D. …

Advertising competes for scarce consumer attention, so more profitable advertisers send more messages to break through …

trade interacts with this problem of market intransparency. Sellers must communicate their offers through costly advertising …