Efstathios Avdis, Masahiro Watanabe,Efstathios Avdis, Masahiro Watanabe, Efstathios Avdis Mar 15,2017
We present a financial market with investors who have nested private information. Small perturbations of price informativeness, originating from fat-finger... Read More
Efstathios Avdis Mar 15,201710
In dynamic financial markets the stochastic supply of risky assets has a significant informational role. Contrary to static models, where... Read More
Published: Journal of Financial Economics, 2016, 122(), 568-584Brendan Daley , Brett Green May 04,2017
We study a bargaining model in which a buyer makes frequent offers to a privately informed seller, while gradually learning... Read More
Florian Hoffmann, Roman Inderst,Florian Hoffmann, Roman Inderst, Marcus Opp Oct 08,2017
We characterize optimal contracts in settings where the principal observes informative signals over time about the agent's one-time action. If... Read More
Liyan Yang Nov 21,2017
This paper studies the classic information-sharing problem in a duopoly setting in which firms learn information from a financial market.... Read More
Brendan Daley , Victoria Vanasco Brett Green Nov 22,2017
We show that the availability of credit ratings (or other public information) increases the allocative efficiency of cash flows by... Read More
Alexei Tchistyi , Tomasz Piskorski Dec 28,2017
We develop a tractable general equilibrium framework of housing and mortgage markets with aggregate and idiosyncratic risks, costly liquidity and... Read More
Bilge Yilmaz,Bilge Yilmaz, Yaron Leitner Nov 21,201710
We study a situation in which a regulator relies on risk models that banks produce in order to regulate them.... Read More
Published: Journal of Financial Economics, 2019, (), -Itay Goldstein , Liyan Yang Jul 06,2018
We study how commodity financialization affects information transmission and aggre- gation in a commodity futures market. The trading of... Read More
Francesco Bova, Liyan Yang Jul 06,2018
We develop a model to illustrate that equity-based compensation for non-executive employees and product market decisions are related. When... Read More