We consider optimal trade policy for a large country with private information. We show that the optimal tariff leads to … a signaling equilibrium with higher tariffs and lower welfare than under complete information, whereas the optimal … import quota replicates the complete information equilibrium and thus is superior to the tariff. We also show that, with the …

In this paper we develop the rst estimator of the covariance matrix that relies solely onforward-looking information …. This estimator only uses price information from a cross-sectionof plain-vanilla options. In an out-of-sample study for US … according to the 1/N rule. The outperformance is strong in periodsof high information asymmetry, whereas in quiet periods all …

-verifiable information. We compare long-term contracts with short-term contracts with respect to their suitability to motivate effort in both … determinants of this trade-off and demonstrate itsimplications for performance measurement and information system design. …

insured individuals. Thus, the functioning of social norms depends crucially on information, in particular on what norm … enforcers are able to observe about an insured individual's behavior. Information is also decisive when distinguishing between …

We examine whether the desire for more information is people's dominant motive for reading economic and political news … experimentally vary people's beliefs about the informativeness of news. Inconsistent with the desire for more information being the … information reduce their demand for news from this newspaper. Furthermore, treated respondents who think that a news outlet is …

We study the impact of private information on volatility in financial markets. We develop a comprehensive framework to … investigate this link while controlling for the effects of both public information (such as macroeconomic news releases) and … private information on prices and the effects of public information on volatility. Using a high-frequency 30-year U …