-scheduled announcements, often arriving simultaneously. Using detailed trade information from the Nordic intra-day electricity market and … effect of news on prices in the preannouncement period, indicating that private information exists and is being used for …

This paper examines private information spillover from the lending market to markets for public securities. We find … that information from private monthly reports to institutional lenders gradually spills over to the public equity market … reports, we find negative abnormal returns, as well as increased short interest. This private information leakage is striking …

certifier can enable the seller to disclose her private information publicly, as well as gather additional market information …-maximal information-gathering. Thus, optimal contracts eliminate private information but not market uncertainty; even though the latter … would be costless, it is suboptimal as it requires excessive information rents to the seller. Thus, market inefficiencies …