We advance the feedback/cash as ammunition hypothesis, namely that firms hold cash to address feedback from stock … the prediction from a standard information asymmetry perspective on stock liquidity. The effect should be amplifed by … information asymmetry, inventory risks, and transaction costs …

We consider a model of cake-eating with private information. The model captures phenomena such as trust and "security …

We consider a model of cake-eating with private information. The model captures phenomena such as trust and “security …

efficiency in the rental market and thus contribute to closing the information gap. Results show that the market for energy … efficiency is indeed inefficient; however, the disclosure of full information can help to overcome these inefficiencies. These …

Global games of regime change that is, coordination games of incomplete information in which a status quo is abandoned … to accumulate information over time and take actions in many periods. It is shown that dynamics may lead to multiple … equilibria under the same information assumptions that guarantee uniqueness in the static benchmark. Multiplicity originates in …

Limited liability and asymmetric information between an investment bank and its lenders provide an incentive for a bank … competition is likely to suffer from the same type of information asymmetry which induced the private market failure and which …