We report results of a field investigation of the process by which clients and prospective auditors acquire information about each other and enter an engagement. Often we assume that knowledge required for contracting is readily known by contracting agents, while in fact it must be acquired...

We report results of a field investigation of the process by which clients and prospective auditors acquire information about each other and enter an engagement. Often we assume that knowledge required for contracting is readily known by contracting agents, while in fact it must be acquired...

Attainment of rational expectations equilibria in asset markets calls for the price system to disseminate traders' private information to others. It is known that markets populated by asymmetrically-informed profit-motivated human traders can converge to rational expectations equilibria. This...