I study how voluntary disclosure of information affects outcomes in plea bargaining. A prosecutor negotiates a sentence with a defendant who privately knows whether he is guilty or innocent. The prosecutor can gather evidence regarding the defendant's type during negotiations, and a trial...

A matching platform elicits information about two customers' (quality) types and decides how to disclose that information. The platform intends to persuade the customers to form a match, knowing that adverse selection may occur (and undermine matchmaking) when the customers are uncertain about...

Besides hostile intervention, activist shareholders aiming to make changes in target firmsalso use more friendly approaches such as communicating with the firm management. Managerscan strategically influence activist shareholders’ perception about the firm and therefore theirchoice of...

This paper analyzes in a spatial framework how much information a seller discloses about the variety he sells when he faces a buyer with a privately known taste for variety. I identify an equilibrium in which, for each possible variety, the seller's optimal strategy consists of either fully...

'Prominence' plays an important role in financial reporting – an entity might assign an item to the footnotes, report it below the line, or comment on it in a press release versus the MD&A. We propose a model where quantitative disclosures are classified as more or less prominent, based on...

This paper examines the relation between information's properties, such as reliability and relevance, and public disclosure policy. It shows that the optimal accounting system often involves a carefully balanced combination of mandatory and voluntary disclosure, with mandatory reporting focused...

Two–way communication via social media platforms allows the firm to make an initial disclosure decision and then revise it after observing the response on social media to its initial decision. We examine the pressures interactive communications place on disclosure choices and find that...

We examine a voluntary disclosure that is nonproprietary in nature and simply reflects management's intention to explain how a widely-known nonrecurring economic event is reported in financial statements. The American Taxpayer Relief Act of 2012 (ATRA) retroactively reinstated previously expired...

We study firms' voluntary disclosures in a world of potential information leaks. We find that managers adapt their disclosure strategy to the likelihood and expected scope of leaks. An increasing likelihood fosters voluntary disclosure if leaks merely expose the manager's information endowment...

We develop a unified treatment of a broad class of truthful disclosure games. Such games have, at most, one equilibrium that is reasonable given a commonly used signaling refinement. We provide a simple algorithm to construct the unique equilibrium strategy and beliefs, and identify necessary...