This paper focuses on risk information campaigns familiarizing consumers with hazardous product attributes and compares policies advocating voluntary and mandatory displays of warning messages. The food allergen labeling campaign provides an opportunity to focus on the availability and...

This paper examines the incentives of a firm to invest in information about the quality of its product and to disclose its findings. If the firm holds back information, it might be detected and fined. We show that optimal monitoring is determined by a trade-off. Stricter enforcement reduces the...

This paper examines the incentives of a firm to invest in information about the quality of its product and to disclose its findings. If the firm holds back information, it might be detected and fined. We show that optimal monitoring is determined by a trade-off. Stricter enforcement reduces the...

The study examines how the lack of comparable public peers (“informational uniqueness”) is related to a firm's disclosure policy and information environment. Having less information spillover from other public firms may present an information deficiency if it is not compensated by other...

Many standard setting organizations (SSOs) require participants to disclose patents that might be infringed by implementing a proposed standard, and commit to license their “essential” patents on terms that are at least fair, reasonable and non-discriminatory (FRAND). Data from these SSO...

Personal information is shared extensively every day, partly in exchange for benefits or as a reaction to other people's information sharing. In this paper, we experimentally investigate these two factors by analyzing the interaction of peer comparison and incentives to disclose potentially...

The Enron scandal has raised questions regarding the adequacy of the present system of financial disclosure. At the same time, public policies increasingly use information disclosure as a regulatory device in a variety of areas beyond financial reporting. This paper provides a framework for...

We examine the relation between managerial incentives and disclosure. Specifically, we examine how contracts that explicitly evaluate managers relative to peer performance are associated with: (1) the transparency of mandatory disclosure; (2) the provision of voluntary disclosure; and (3) the...

This paper studies dynamic disclosure when the firm value evolves stochastically over time. The presence of litigation risk, arising from the failure to disclose unfavorable information, not only prompts bad news disclosures but also crowds out good news disclosures. The manager's disclosure...