Information asymmetries can prevent markets from operating efficiently. An important example is the labor market, where … three key questions related to hiring via referrals when employees have private information about their productivity. First …

Information asymmetries can prevent markets from operating efficiently. An important example is the labor market, where … three key questions related to hiring via referrals when employees have private information about their productivity. First …

We analyze the incentives for information disclosure in financial markets. We show that borrowers may have incentives … to voluntarily withhold information and that doing so is most attractive for claims that are inherently hard to value … incentives for information disclosure and have ambiguous ex-ante effects. …

This paper analyzes the effect of information spillover in a multi-good adverse selection model where a privately … seller's information from past trading outcomes in the market they participate, but also may learn from transactions in the … other market, which is referred to as “information spillover”. We characterize the equilibria and identify a sufficient …

I study a dynamic stochastic general equilibrium model in which information on capital quality is asymmetric and the … degree of information asymmetry varies endogenously with the state of the economy, amplifying the shocks. Firms hold capital … information on which units of their capital have depreciated, but can acquire private information on their own capital at a cost …