Economics of Accounting

Part A: Basic Decision-Facilitating Role of Information.- Single Person Decision Making under Uncertainty.- Decision-Facilitating Information.- Risk Sharing, Congruent Preferences, and Information in Partnerships. Part B: Public Information in Equity Markets.- Arbitrage and Risk Sharing in Single-period Markets.- Arbitrage and Risk Sharing in Multi-period Markets.- Public Information in Multi-period Markets.- Production Choice in Efficient Markets.- Relation Between Market Values and Future Accounting Numbers.- Relation Between Market Values and Contemporaneous Accounting Numbers. Part C: Private Investor Information in Equity Markets.- Impact of Private Investor Information in Equity Markets.- Strategic Use of Private Investor Information in Equity Markets. Part D: Disclosure of Private Owner Information in Equity and Product Markets.- Disclosure of Private Information by an Undiversified Owner.- Disclosure of Private Information by Diversified Owners.- Disclosure of Private Information in Product Markets.- Author Index.- Subject Index.