We examine how the reputation concern of contracting parties affects contractual incentives if information is … and eliminates all incentives. Finally, we apply the model to discuss the optimal information disclosure policy of courts …

commonly known. I consider a principal-agent setting where the principal has persistent private information about her outside … overstate her outside option to capture more surplus. I characterize how information is revealed, how the relationship evolves …

Using a sample of long-term supply contracts collected from SEC filings, I show that hold-up concerns and information … asymmetry are important determinants of contract design. Asymmetric information between buyers and suppliers leads to shorter …

information, transaction-cost free environment may be may generate valuable insights. We achieve this by assuming bargaining with … asymmetric information. We consider the consequences of asymmetric information for investment decisions and for the assignment of …

The 'ratchet effect' refers to a situation where a principal uses private information that is revealed by an agent …

principals and a single agent under private information about his preferences. The contract of the first principal exerts a pure … information externality on the contract of the second one. When the first contract is immediately enforced, the first principal … has to compensate the agent for the loss of information advantage due to observability of the outcome of the contract by …