The so-called disclosure principle is a 'puzzle' in the accounting literature: Game theoretic models of financial markets show that in equilibrium firms should disclose all their private information. Yet, the result is not convincing. Researchers have therefore built sophisticated models in...

The so-called disclosure principle is a 'puzzle' in the accounting literature: Game theoretic models of financial markets show that in equilibrium firms should disclose all their private information. Yet, the result is not convincing. Researchers have therefore built sophisticated models in...

In July 2001 the 70-year-old German Rabattgesetz that prevented negotiations in retail business has been abolished. During the abolition process consumer- as well as retailer pressure groups claimed that significant damages for their clients were to be expected. Using game theoretic modelling...