We analyze a model of competition in Bayesian persuasion in which two or more senders vie for the patronage of a receiver by disclosing information about their respective proposal qualities. The model’s primitives that define the competitive environment are: the ex-ante correlation of senders’ proposal qualities; the respective ex-ante expected proposal qualities; and the number of competing se...

We study optimal bank regulation in an economy with aggregate uncertainty. Bank liabilities are used as “money” and hence earn lower returns than equity. In laissez faire equilibrium, banks maximize market value, trading off the funding advantage of debt against the risk of costly default. The capital structure is not socially optimal because external costs of distress are not internalized by t...

The underreporting of rape is well known; however, there is less information on women who fail to disclose to anyone. This online study suggests that 24% of 242 women who were non-disclosing compared with those who had disclosed were significantly less likely to seek treatment for emotional injuries. Also, almost two thirds of non-disclosing women believed the abuse was their fault versus 39.1%...

China currently adopts voluntary principles to disclose sustainable development information, and so considerable numbers of listed companies have chosen not such information. Since disclosure non-disclosure groups face different production opportunities, this research uses the meta-frontier framework completely analyze practices China’s artificial intelligence (AI) industry. Empirical results s...

Optimal Accumulation in an Endogenous Growth Setting with Human Capital This paper considers a three-overlapping-generations model of endogenous growth wherein human capital is the engine of growth. It first contrasts the laissez-faire and the optimal solutions. Three possible accumulation regimes are distinguished. Then it discusses a standard set of tax-transfer instruments that allow for dec...

DNA segments that actively regulate transcription in vivo are typically characterized by eviction of nucleosomes from chromatin and are experimentally identified by their hypersensitivity to nucleases. Here we demonstrate a simple procedure for the isolation of nucleosome-depleted DNA from human chromatin, termed FAIRE (Formaldehyde-Assisted Isolation of Regulatory Elements). To perform FAIRE, ...

Humans devote 30-40% of speech output solely to informing others of their own subjective experiences. What drives this propensity for disclosure? Here, we test recent theories that individuals place high subjective value on opportunities to communicate their thoughts and feelings to others and that doing so engages neural and cognitive mechanisms associated with reward. Five studies provided su...

PURPOSE Belief in conspiracy theories about societal events is widespread among citizens. The extent to which conspiracy beliefs about managers and supervisors matter in the micro-level setting of organizations has not yet been examined, however. We investigated if leadership styles predict conspiracy beliefs among employees in the context of organizations. Furthermore, we examined if such orga...

Merger Profitability and Trade Policy by Steffen Huck and Kai A. Konrad We study the profitability and welfare effects of merger in a strategic trade policy environment. Merger changes the strategic trade policy equilibrium. We show that merger can be profitable and welfare enhancing here, even though it is not profitable in a laissez-faire economy. A key element is the change in the government...