collects data that contains information about the firm's id- iosyncratic private characteristics. This paper studies the case … in which the regulator uses information gleaned from past cost observations when designing the current pe- riod …'s contract. Cost observations are obscured in stochastic settings and so perfect inferences about underlying private information …

performance ; information ; transparency ; regulation … evaluation such regulations. I argue that, for market performance, more information is not always better; indeed, more … information may undermine market performance by facilitating behaviour that is either not cost efficient or aims at exercising …

institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the …

corrective taxation and to regulation. …