Disclosure--the practice of providing information to support decision making--has been widely mandated in public policy but is routinely ignored by consumers and subject to obfuscation by firms. Yet most evidence on the effectiveness of consumer financial disclosure stems from lab experiments...

We investigate trade credit decisions using a framework which reflects capital market equilibrium via contingent claims analysis. We approach the valuation of trade credit from the perspective of straightforward evaluation of risky debt. By modeling the trade credit limit decision in this way,...

The issue of choosing to sell property by auction or by traditional negotiated search markets is addressed in this article. A general selling institution called the slow Dutch auction is introduced. This general selling mechanism reduces to either a conventional auction, a posted offer, or some...