the output and the public signal is private information to the agent but is an ambiguous random variable to the principal …

expected claims, compute the corresponding premiums, and thereby reduce asymmetric information. An efficient risk … asymmetric information. …

increased the credibility of information disclosed. Third, we show a 5.8 percent increase in asking price, indicating a … information and market outcomes …

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. …

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 …

information, equilibria are efficient, and we determine the degrees of specialization under which the specialized insurers are …