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Robust Rules for Voluntary Disclosure: When Commitment Matters

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  • Auster, Sarah
  • Mass, Helene

Abstract

We study the value of commitment in verifiable disclosure games when the receiver faces non-quantifiable uncertainty about the evidence environment. The sender has stochastic access to hard evidence and may disclose or suppress it; the receiver chooses a decision rule to maximize her payoff guarantee. When ambiguity concerns the payoff state, the receiver has strict incentives to soften her standards ex post after non-disclosure, making commitment strictly valuable. When ambiguity concerns the sender’s expertise, incentives reverse: the receiver prefers a stricter reaction than is ex-ante optimal, so prespecified, hard-wired rules for non-disclosure improve payoffs for both sides.

Suggested Citation

  • Auster, Sarah & Mass, Helene, 2025. "Robust Rules for Voluntary Disclosure: When Commitment Matters," CEPR Discussion Papers 20983, Centre for Economic Policy Research.
  • Handle: RePEc:cpr:ceprdp:20983
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    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law

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