Using several measures of information share, we examine price discovery across the inter-dealer and dealer-customer market tiers in the currencies market. In the spot market, the information share of the inter-dealer tier is higher than that of the dealer-customer one for non-financial sector...

We analyze how reputation concerns for expertise of a partially informed decision maker affect her ability to extract information from reputation-concerned advisors. Very high reputation concerns of the decision maker destroy her incentives to seek advice. Yet, when such concerns are not high...

We analyze how reputation concerns of a partially informed decision-maker affect her ability to extract information from reputation-concerned advisors. Too high decision-maker's reputation concerns destroy her incentives to seek advice. However, when such concerns are low, she is tempted to...