. 2) It yields a positive information rent effect exactly when demand is convex. 3) Firms benefit from regulatory risk …

A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing … average portfolio demand information in equilibrium if they can adjust portfolio size. More information diminishes the … endowments strongly differ from the average portfolio are worse off. Under fully revealing price, information market equilibria …

appropriate information provision enhances efficiency. We discuss extensions of the model and argue that subsidies may be a … property of a signalling equilibrium to overcome credibility problems in information provision. In addition we point out … possible problems with overreaction to public information. Furthermore, we suggest a new focus for development policy. …

No voters cast their votes based on perfect information, but better educated and richer voters are on average better … strong correlation between income and political information, Congress representatives vote more conservatively, which is also …

We investigate whether the simple plurality rule aggregates information efficiently in a large election with three …. With two alternatives and strategic voters, the simple plurality rule aggregates information efficiently in elections with …

industry consists of a polluting firm with private information about its production technology. Implementing a transfer … incentives to delegate. Furthermore, we discuss how partial delegation, i.e., delegation followed by laws and regulations that …

32 OECD countries from 1985 to 2013, we show that more stringent product and labour market regulations are associated … interactions between product and labour market policies. Higher levels of product market regulations (covering state control … and labour market regulations and the capital stock. Equally important is the finding that the rule of law and the quality …