6 papers
Truth and Deception
Jeremy Bertomeu, Edwige Cheynel
Organizations rely on languages that imperfectly represent underlying states. We study the interaction of a lying cost, increasing in the distance from the message prescribed by th…
Random Disclosure Costs: A Unified Theory of Disclosure
Jeremy Bertomeu, Edwige Cheynel, Keri Hu
We propose a unified framework for a class of evidence games in which a sender, seeking to increase posterior expectations (e.g., a market price), chooses whether to reveal or with…
Measuring DeFi Risk
Jeremy Bertomeu, Xiumin Martin, Ibrahima Sall
Decentralized finance (DeFi) lending has grown from nonexistent in 2017 to nearly 40 billion US Dollars in deposited funds in May 2022. Using cryptocurrency as collateral, the plat…
Disclosure under Noisy Information Processing
Jeremy Bertomeu, Edwige Cheynel, Peicong Hu
Capital markets process disclosures with noise. Adding this single friction overturns the standard characterization of costly voluntary disclosure. Firms may unravel to full disclo…
Private Languages
Jeremy Bertomeu
Strategic communication often relies on anchors observed by the sender but not by the receiver. An analyst may report against a proprietary valuation model, an auditor against an i…
Managers' Choice of Disclosure Complexity
Jeremy Bertomeu
Aghamolla and Smith (2023) make a significant contribution to enhancing our understanding of how managers choose financial reporting complexity. I outline the key assumptions and i…