obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk … deterrent effect under complete information, this does not hold anymore under strategic risk. Rather, we find that increases in …

This paper assesses different organizational forms in terms of their ability to generate information about investment … likely to be attractive when information about individual projects is soft' and cannot be credibly transmitted. Moreover …, holding fixed firm size, soft information also favors flatter organizations with fewer layers of management. In contrast …

This paper explores environments in which either the revelation or diffusion of information, or its incorporation into … methodology and for understanding the process by which stock prices incorporate information. Two environments are highlighted …. First, information is often not revealed in one announcement but rather through a process of gradual public revelation …

A model of interest rate movements in response to new information on the money stock is developed.The model, which …

Employment matches under uncertainty are typically accompanied by opportunities for information acquisition. Workers … can acquire specific information about productivity lotteries at the firm or general information affecting their … probabilistic beliefs about work elsewhere. Enterprises can acquire specific information concerning the productivity of a particular …

Information is a fundamental component of all financial transactions and markets, but it can arrive in multiple forms …. We define what is meant by hard and soft information and describe the relative advantages of each. Hard information is … quantitative, easy to store and transmit in impersonal ways, and its information content is independent of its collection. As …

Using information on the sales of debt claims for 132 U.S. Chapter 11 bankruptcy cases, we show that large trade … pronounced for more opaque distressed firms, when trade creditors' information advantage is likely largest. This evidence shows … that suppliers that extend significant amounts of trade credit hold private information about their trade partners. Trade …

or the amount of information that consumers have are known and tests the implications of the theory. In general there is … role of persistence, information, size and insurability of changes in economic resources. We next examine the empirical … and identify the income process or the information set of the individuals. Second, one can assume that the income process …

-optimal tariff, in order to conceal weakness. It also suggests a new information-based theory of gradualism in trade agreements … bindings (i.e., precise tariff levels). Consistent with practice, the theory also predicts that governments sometimes apply … tariffs that are strictly below their bound rates. When private information is persistent through time, an enforcement …