Obtaining information about changes in market conditions is vital for the survival of the firms operating in a changing … environment. In this paper, we offer a theory of information flows in a setting in which the principal faces a project choice and … between the project and the environment. Distortions in information flows arise since the production cost is known only to the …

This paper models the interactions among technological innovation, product market competition and information leakage … technology either early on as a leader or later once stock prices reveal the value of the technology. Information leakage thus … market competition increases the option value of waiting but has an ambiguous effect on information production. It may thus …

This paper studies the use of information for incentives and risk sharing in agency problems. When the principal is … outcome. In this case, information systems are ranked according to their informativeness of the agent's action. When the … outcome is noncontractible, however, the principal has to rely on imperfect information for both incentives and risk sharing …

Standard sticky information pricing models successfully capture the sluggish movement of aggregate prices in response … paper shows that in a setting where firms choose when to acquire costly information about different types of shocks … information about monetary policy shocks less frequently than about idiosyncratic shocks. When calibrated to match frequent and …

We study a dynamic information design problem in a finite-horizon setting consisting of two strategic and long … two states, one "good" and one "bad" absorbing state, and has to decide how to sequentially disclose information to the … detector. The detector's only information consists of the messages she receives from the principal. The detector's objective is …

We develop a theory of information flows and political regime change, when citizens use information and communication … technologies (ICTs) for both information acquisition and protest coordination. Governments can respond by obfuscation of citizens …

In an environment with dispersed information, how much can agents learn from past endogenous aggregate outcomes such as … only partially revealed in the latter. The confounding regime arises only when general equilibrium feedback effects are …, and they display an initial under-reaction relative to their perfect information counterparts followed by a delayed …

bizarre idiosyncrasies and their information is widely dispersed …

bizarre idiosyncrasies and their information is widely dispersed …