We model firms' quality disclosure and pricing in the presence of cursed consumers, who fail to be sufficiently ….e. mandatory disclosure, third party disclosure and consumer education may all increase exploitation and decrease welfare. Even …

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 … that competition between senders positively affects disclosure of information and receivers' welfare. …

This paper studies the general information disclosure model (Grossman, 1981; Milgrom, 1981) relaxing the assumption of … original unraveling result to hold in the general case. Finally, I compare information disclosure with cheap talk and Bayesian …

production and quality disclosure are endogenous decisions, affected by information made available by third parties. We show that … can reduce their information disclosure investments more so than higher quality firms. Finally, we show that the intuitive …

certifiers and the information disclosure of applicants. We show that the inability of a certifier to commit to the amount of …

the disclosure policy. A sequential disclosure rule is shown to implement an ascending price auction in which each losing … constraints of the bidders from interim to posterior constraints. Due to the limited disclosure of information, the participation …

informative communication in others. Building on these observations, we first identify a novel stylized fact: disclosure … complexity is non-monotonic in firm performance. We then develop a model of disclosure complexity that incorporates the dual … sophistication and can adjust the complexity of the disclosure to either provide more precise information or to obfuscate. In …