Optimal disclosure policy and undue diligence

@article{Andolfatto2012OptimalDP,
  title={Optimal disclosure policy and undue diligence},
  author={David Andolfatto and Aleksander Berentsen and Christopher Waller},
  journal={J. Economic Theory},
  year={2012},
  volume={149},
  pages={128-152}
}
While both public and private financial agencies supply asset markets with large quantities of information, they do not necessarily disclose all asset-related information to the general public. This observation leads us to ask what principles might govern the optimal disclosure policy for an asset manager or financial regulator. To investigate this question, we study the properties of a dynamic economy endowed with a risky asset, and with individuals that lack commitment. Information relating… CONTINUE READING
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