that competition between senders positively affects disclosure of information and receivers' welfare. …The theory of voluntary disclosure of information posits that market forces lead senders to disclose information … adverse inferences about non-disclosed information. Previous research finds that receivers do not sufficiently infer non-disclosure …

information relating to their quality, as buyers infer from such non-disclosure that the seller possesses the lowest possible … information is limited. Evidence is presented against the alternative interpretation that non-disclosure success is driven by …

investigates this strategic use of vagueness in voluntary disclosure and asks whether there is scope for policy to improve … sophistication. Imposing precise disclosure leads to more easily interpretable messages, but results in fewer sender types disclosing … at all. Since non- disclosure also systematically misleads naive receivers, the welfare implications of imposing …

We consider a disclosure game between a seller and a buyer. The seller knows the quality of a good, while the buyer …

that competition between senders positively affects disclosure of information and receivers' welfare …The theory of voluntary disclosure of information posits that market forces lead senders to disclose information … adverse inferences about non-disclosed information. Previous research finds that receivers do not sufficiently infer non-disclosure …