appropriate information provision enhances efficiency. We discuss extensions of the model and argue that subsidies may be a … property of a signalling equilibrium to overcome credibility problems in information provision. In addition we point out … possible problems with overreaction to public information. Furthermore, we suggest a new focus for development policy. …

Is free-riding in teams reduced when one member receives a signal on his colleagueís performance? And how does free … to contribute to the team output. We vary the type of information the second mover receives prior to his effort choice …

private information. Path-dependency can be of two types contingent on whether agents act with the crowd (herding) or against … predecessors were informed, although they cannot observe their private information, while in other cases they are left with the …

We provide several generalizations of Mailath's (1987) result that in games of asymmetric information with a continuum …

Certifiers contribute to the sound functioning of markets by reducing a symmetric information. They, however, have been … publicly, whereas if the buyer requests a rating it remains his private information. The model shows that the certifier offers …

This paper analyzes delegation and joint decision making in an environment with private information and partially …

strategic behavior of the agents, both under symmetric and asymmetric information. Using novel data from Palm Beach County (FL …, US), we find evidence of both strategic behavior and asymmetric information, with the lender being the informed party …. Moreover, the data are consistent with moral hazard in mortgage securitization: banks collect less information about the value …