We analyze how voluntary disclosure of information by bidders affects the outcome optimally designed auctions. In a single-object auction environment, we assume that before revenue-maximizing auctioneer designs auction, noncooperatively choose signal structures disclose about their valuations. show an equilibrium exists in this two-stage game and every object is sold with probability one. Our m...

This paper aims to research the topics related risk included in non-financial disclosure (NFD) of companies listed on Warsaw Stock Exchange (WSE) and explore factors that influence ratio NFD. We applied a content analysis using topic modeling discover latent Next, with Ward’s clustering, we identified four groups homogenous mixture. For causal analysis, explain differences ratio, used qualitati...

In 2019, Zhou et al. proposed semi-quantum identification (also known as authentication, SQA), which proceeds under a measure-resend and measurement-free environment. However, al.’s SQA protocol suffers from severe information leakages. An eavesdropper can obtain an intact authentication key without being detected this particular, is vulnerable to double CNOT attacks, while the man-in-the-middl...