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Although companies are exhorted to provide more information to the financial community, it is evident that they choose different paths based upon their strategic emphasis and competitive environments. Our investigation explores the…
A privately-informed sender can commit to any disclosure policy towards a receiver. We show that full disclosure is optimal under a sufficient condition with some desirable properties. First, it speaks directly to the utility functions of…
A policymaker discloses public information to interacting agents who also acquire costly private information. More precise public information reduces the precision and cost of acquired private information. Considering this effect, what…
Global climate warming and air pollution pose severe threats to economic development and public safety, presenting significant challenges to sustainable development worldwide. Corporations, as key players in resource utilization and…
Transparency is often deemed critical to enable effective real-world deployment of intelligent systems. Yet the motivations for and benefits of different types of transparency can vary significantly depending on context, and objective…
We consider a team-production environment where all participants are motivated by career concerns, and where a team's joint productive outcome may have different reputational implications for different team members. In this context, we…
The goal of climate change governance is to stabilize greenhouse gas concentrations. This requires the reduction of anthropogenic global net emissions. In the pursuit of such a reduction, knowledge of greenhouse gas sources and sinks is…
Central to privacy concerns is that firms may use consumer data to price discriminate. A common policy response is that consumers should be given control over which firms access their data and how. Since firms learn about a consumer's…
Alignment of financial market incentives and carbon emissions disincentives is key to limiting global warming. Regulators and standards bodies have made a start by requiring some carbon-related disclosures and proposing others. Here we go…
We examine how uncertain veracity of external news influences investor beliefs, market prices and corporate disclosures. Despite assuming independence between the news' veracity and the firm's endowment with private information, we find…
I study a model of advisors with hidden motives: a seller discloses information about an object's value to a potential buyer, who doesn't know the object's value or how profitable the object's sale is to the seller (the seller's motives). I…
Algorithmic transparency entails exposing system properties to various stakeholders for purposes that include understanding, improving, and contesting predictions. Until now, most research into algorithmic transparency has predominantly…
Information sharing among organizations has been gaining attention as a method for improving cybersecurity. However, the associated disclosure costs act as deterrents for firms' voluntary cooperation. In this work, we take a game-theoretic…
The disposition effect describes investors' irrational behavior of selling profitable assets too soon while holding onto losing assets for too long. This study examines the impact of transparency at the firm level on the disposition effect…
Open data are held to contribute to a wide variety of social and political goals, including strengthening transparency, public participation and democratic accountability, promoting economic growth and innovation, and enabling greater…
Machine learning systems are increasingly used to support public sector decision-making across a variety of sectors. Given concerns around accountability in these domains, and amidst accusations of intentional or unintentional bias, there…
In response to China's national carbon neutrality goals, this study examines how corporate carbon emissions disclosure affects the financial performance of Chinese A-share listed companies. Leveraging artificial intelligence tools,…
Climate change has increased demands for transparent and comparable corporate climate disclosures, yet imitation and symbolic reporting often undermine their value. This paper develops a multidimensional framework to assess disclosure…
In a technical treatment, this article establishes the necessity of transparent privacy for drawing unbiased statistical inference for a wide range of scientific questions. Transparency is a distinct feature enjoyed by differential privacy:…
Should firms that apply machine learning algorithms in their decision-making make their algorithms transparent to the users they affect? Despite growing calls for algorithmic transparency, most firms have kept their algorithms opaque,…