Information disclosure and voluntary contributions to public goods

Article Abstract:

The effects of disclosure and information generation on free-rider problem among producers and consumers of a public good are analyzed using a model of disclosure. The model also examines the positive effects of policies that influence disclosure on the likelihood that cooperative efforts may fail in a public-goods game. The model uses a disclosure that provides potential social benefit of permitting investment to adapt to the profitability of investment. The possible collapse of disclosure may apply when the equilibrium always involves positive contributions by members and when the equilibrium sometimes involves zero investment.

Reporting & Disclosure, Models, Disclosure statements (Accounting)

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Stock ownership patterns, stock market fluctuations, and consumption

Article Abstract:

An empirical approach was used to study the effects of the stock market on the economy, particularly on consumer spending. The results, which reveal a slight proof of a wealth effect through which stock prices affect consumption, contradict a traditional consumption model. However, consumption may have gradually reacted to stock market wealth such that the effect may have been overlooked. Stock prices are believed to possibly have an effect on consumption through consumer confidence and other channels instead of wealth because stock prices appear to predict future activity.

Evaluation, Economic aspects, Stocks, Stock-exchange, Stock exchanges

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Disaggregate wealth and aggregate consumption: an investigation of empirical relationships for the G7

Article Abstract:

The disaggregate financial wealth in consumption functions is studied. Results indicate that illiquid financial wealth is an important determinant of consumption.

United States, Financial analysis

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