This textbook incorporates the author's previous book "The Economics of Uncertainty and Insurance" and extends it with … the addition of several new chapters on risk sharing, asymmetric information, adverse selection, signaling and moral … hazard. It provides a comprehensive introduction to the analysis of economic decisions under uncertainty and to the role of …

We develop a measure of how information events impact investors' expectations of risk. The measure is broadly … simultaneously conveys information on the announcer's expected future cash flows and risk profile. We empirically implement the … simple changes in option-implied volatilities to study information gleaned from earnings announcements. Finally, we apply our …

depends on the extent to which new information is conveyed by each, which depends on the prior disclosures of that factor by … uncertainty, measured by the stock return volatility and average bid-ask spread around the filing date, while reported risk … factors that were already disclosed in previous year's annual report have a smaller effect on investors' uncertainty. Moreover …