that can incentivize low-quality sellers to communicate their quality are buyers' risk-attitude and competition. Quality … disclosure reduces buyers' risk thereby increasing their willingness to pay. It also introduces product differentiation softening …

The theory of voluntary disclosure of information posits that market forces lead senders to disclose information …

their private information than theory would predict. To better understand this discrepancy, I use data from an online self …

This study aims at characterizing the optimal regulation of risky activities when risk assessment is subjective as a … risk perceptions, which substantially affect the optimal intervention. To explore this issue, we construct a moral hazard … optimal fine level, which is in contrast to the effect of less risk-aversion. We then extend the analysis to the case where …

In this paper, I examine the impact of ambiguity (Knightian uncertainty), alongside that of risk, on firms’ voluntary … disclosure decisions. I confirm the well-known result that an increase in risk— uncertainty over outcomes—is associated with an … which risk impacts managers’ disclosure decisions have been extensively studied in the accounting literature, no extant …