Legal process involves both information gathering and decisionmaking components. The field of legal procedure defines rules the affect the cost of accuracy of the legal process. Two important aspects of legal process involve the specification of relevent issues and the interaction between...

We modify a standard Baron-Myerson model by assuming that, instead of knowing the cost of nature, the agent has to incur a cost 'g' to learn it.Under these conditions, the principal will offer contracts that, dependingon the value of 'g', try to induce the agent to gather or not to gather...

Creditors often share information about their customers' credit record. Besides helping them to spot bad risks, this informational exchange acts as a disciplinary device. If creditors are known to exchange data about defaults, borrowers must consider that default on a current lender would...

Suppose, we replace "knowledge" by "belief with probability p" in standard definitions of common knowledge. Very different notions arise depending on the exact definition of common knowledge used in the substitution. This paper demonstrates those diffrences and identifies which notion is...

The new decade has been called "the age of information." We show that, although information has become more accessible, the increase in the variety of products has made consumers' choices complex and uncertain. Faced with uncertainty about products' attributes offered by "umbrella brands,"...

Cet article a pour objectif d'apporter un nouvel eclerage theorique a la question de la reduction de la dette des pays en developpement, et de discuter de l'efficacite de cette strategie dans un cadre de mache. Le modele developpe ici se distingue des modeles fondateurs car il tient compte de...

The objective of this paper is to examine the economic forces that underlie the accounting recognition issue in order to better understand the comparative advantages of accounting as a source of information.