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

This paper studies the incentives for interim voluntary disclosure of verifiable information in probabilistic all … favorite will try to discourage the underdog─so that the contest unravels. Self-disclosure is optimal even though a weak …