We investigate how heterogeneous social preferences affect the communication of painful information in social … because revealing the latter would signal that they are selfish, thereby leading to a loss of trust. We also find that … intact social relationship. Moreover, there may be multiple equilibria with different degrees of information disclosure and …

We examine whether a corruption scandal in which the incumbent is implicated undermines trust in local government. We …, and data on the level of trust expressed in local politicians drawn from a new survey conducted in late 2009. We use … matching methods to improve the identification of the effect of corruption scandals on trust, comparing municipalities affected …

between public and private blockchains, because their economic properties are contrasted. Moreover, governance issues in … public blockchains seem to indicate that the technology alone cannot guarantee trust. …

high growth, but based on a simple stylized model of government behavior the expectation is that mainly high trust … countries provides support for this expectation. The difference in fiscal policies depending on government trust levels may help … explaining why better governed countries have been found to have less severe business cycles. It suggests that trust and …

Disclosure is widely regarded as a necessary condition for market discipline in a modern financial sector. However, the … determinants of disclosure decisions are still unknown, particularly among banks. This paper investigates the determinants of … disclosure by Japanese Shinkin banks in 1996 and 1997. This period is unique because disclosure of non-performing loans was …

We model firms' quality disclosure and pricing in the presence of cursed consumers, who fail to be sufficiently ….e. mandatory disclosure, third party disclosure and consumer education may all increase exploitation and decrease welfare. Even …

Following Garicano (2000), we consider groups whose members decide what knowledge to acquire and how to use this … knowledge in production. If efficient production requires common knowledge, all group members should become workers and acquire … common knowledge. But if efficient production requires diverse knowledge, one group member should become manager, acquire …

quality of governance) and the degree of market segmentation (depending on the level of ethnic fractionalization). The model …