We study decentralized markets in which advisers have conflicts of interest and compete for customers via information provision. We show... Read More
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How does a firm’s disclosure policy depend on its choice of financing? In this paper, I study a firm that... Read More
We introduce a model to explain the widespread failure to index contracts to aggregate indices, despite the apparent risk-sharing benefits... Read More
A theory framework to assess how global, too-big-to-fail banks can be successfully resolved by national regulators.
To assess the value of information for contracting, it is necessary to study how contracts change with signal precision. This... Read More