We study the interaction between the usual inside information (about asset values) and information about its existence (i.e., about the existence of insiders) in an otherwise standard continuous-time Kyle-Back model. Interestingly, only the inside information, conditional on its existence,...

We study the optimality of debt through the interaction between security design and information acquisition. An impatient seller designs a security backed by her asset in place and a buyer decides whether to buy the security in order to provide liquidity. Facing different securities, the buyer...

This paper studies how disclosure of bank-specific information can mitigate systemic bank runs by reallocating systemic risk across different banks. We find that disclosure of information about vulnerability to systemic risk loads more of the constant aggregate systemic risk to less vulnerable...

Recent technology advances have enabled firms to flexibly process and analyze sophisticated employee performance data at a reduced and yet significant cost. We develop a theory of optimal incentive contracting where the monitoring technology that governs the above procedure is part of the...

What distinguishes cancer from other more treatable diseases is perhaps the random, multi-strain nature of the disease. Here we apply tools from statistical mechanics to model cancer vaccine design. The difficulty of controlling cancer by many of the standard therapies has led to substantial...

We investigate the dynamics of quantum discord during the purification process. In the case of Werner states, it is shown that quantum discord is increased after a round of purification protocol. Furthermore, quantum mutual information and classical correlation is also increased during this...