A principal acquires information about a shock and then discloses it to an agent. After the disclosure, the principal … principal maximizes his expected payoff by controlling the quality of his information, and the disclosure rule. We show that …

; disclosure ; signal quality ; transparency ; specific investment ; strategic ignorance …A principal acquires information about a shock and then discloses it to an agent. After the disclosure, the principal … principal maximizes his expected payoff by controlling the quality of his information, and the disclosure rule. We show that …

A principal acquires information about a shock and then discloses it to an agent. After the disclosure, the principal … disclosure rule. We show that even when the acquisition of perfect information is costless, the principal may optimally acquire …

We study how interest alignment between CEOs and corporate boards influences investment efficiency and identify a novel … force behind the benefit of misaligned preferences. Our model entails a CEO who encounters a project, gathers investment …

about the good's quality publicly. We show that the certifier's optimal contract exhibits maximal disclosure but non …