the source of information, namely whether information comes from external certification or from random detection …

I analyze a simple model of hold-up with asymmetric information at the contracting stage. I show that contractual … encourages investment in the relationship but also signals information. This conflict generates inefficient equilibria in terms … inefficiency of investment) when the asymmetry of information concerns the value of trade with external parties. While exclusivity …

Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer …

credible. The manager can also show personal commitment to compliance ('tone-at-the-top'). Coordination on an efficient outcome …'s internal coordination because he is unable to credibly signal that an infringement does not pay off for the firm. However …

Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer …

consumers who share information locally with their neighbors in their social network. Traditional quality signaling games …

We analyze a simple model of bilateral bargaining under asymmetric information where the seller of an object can not … action might signal private information. We develop a complete characterization of Perfect Bayesian Equilibrium in pure and …

In case of multiple creditors a coordination problem can arise when the borrowingfirm runs into financial distress … on theirloans. We develop a model of creditor coordination where a large creditor movesbefore a continuum of small … information. We derive conditions under which pure herdingbehavior is to be expected. …