importance of appropriately specifying the nature of the information available to market participants. Reinterpreting the models …

private information about the possible returns on that investment and must decide whether to disclose it. Larger equity … payments undermine incentives to invest, reducing the impact of information revealed by the seller on expected values of the … asset to a winning bidder. Thus, information disclosure makes bids less aggressive in expectation. Expected seller revenues …

insiders to trade shares in the firm on private information. A computational framework is employed to (i) analyze formally the …

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 …

The rate of information diffusion and consequently price discovery, is conditional upon not only the design of the … an increasing number of information hierarchies among informed competitive traders leads to a slower information … rather than with noise traders in the presence of the information hierarchies. Furthermore, we show that momentum can be …