In trials witnesses often slant their testimony to advance their interests. To obtain truthful testimony, courts rely on perjury rules. We show that truth-revelation is possible and that perjury rules are not truth-revealing. If the judge uses a truth-revealing mechanism, he will get little testimony because the defendant will not present a witness with unfavorable news; however, testimony is o...

We consider an economy with asymmetric information and two types of agents, fully informed and uninformed. Uninformed agents update their information observing equilibrium prices and the equilibrium levels of other agents’ excess demand. We show that, for a generic set of economies, there are rational expectations equilibria which are partially revealing on an open, dense set of signals of posi...

We study decidability of a logic for describing processes with restricted names. We choose a minimal fragment of the Ambient Logic, but the techniques we present should apply to every logic which uses Cardelli and Gordon revelation and hiding operators, and Gabbay and Pitts freshness quantifier. We start from the static fragment of ambient logic that Calcagno, Cardelli and Gordon proved to be d...

We propose a formal approach to the problem of transforming uncertainty into risk via information revelation processes. Abstractions and formalizations regarding information acquisition processes are common in different areas of information sciences. We investigate the relationships between the way information is acquired and the continuity properties of revelation processes. A class of revelat...

This paper introduces a theory of market incompleteness based on the information transmission role of prices and its adverse impact on the provision of insurance in financial markets. We analyse a simple security design model in which the number and payoff of securities are endogenous. Agents have rational expectations and differ in information, endowments, and attitudes toward risk. When marke...

Four events in recent months have been of significance that they have affected all of us either directly or indirectly. These events like the four horsemen of the Apocalypse bring with them reflection, revelation, judgement and hope. The first of these events is "the Bristol case", a drama of huge proportions which reverberated far and wide and has held the attention of doctors, patients and po...

Privacy Concerns, Voluntary Disclosure of Information, and Unraveling: An Experiment by Volker Benndorf, Dorothea Kübler and Hans-Theo Normann* We study the voluntary revelation of private, personal information in a labor-market experiment with a lemons structure where workers can reveal their productivity at a cost. While rational revelation improves a worker's payout, it imposes a negative ex...

I examine two types of mechanisms, demand revelation mechanisms and preference revelation mechanisms, in many-to-one matching problems. As in Hatfield and Milgrom (2005), I consider general matching problems with contracts. I show that the core correspondence is not Nash-implementable by any demand/preference revelation mechanism. A strong version of Maskin monotonicity plays a crucial role for...

Privacy Concerns, Voluntary Disclosure of Information, and Unraveling: An Experiment by Volker Benndorf, Dorothea Kübler and Hans-Theo Normann* We study the voluntary revelation of private, personal information in a labor-market experiment with a lemons structure where workers can reveal their productivity at a cost. While rational revelation improves a worker's payout, it imposes a negative ex...