In capital markets, information disclosure is required to reduce information asymmetry among investors. On the other hand, information held by some market participants is useful for firms' decision making, and the feedback effect, in which information is obtained from prices and used for...

"This paper studies the design of optimal contracts in dynamic environments where agents have private information that is persistent. In particular, I focus on a continuous time version of a benchmark insurance problem where a risk averse agent would like to borrow from a risk neutral lender to...