Economics of Accounting Vol. 1

"Economics of Accounting: Volume I - Information in Markets is divided into four parts. In Part A, the authors set the stage in terms of representation of uncertainty, preferences, decisions, and information in a single decision maker setting. The important concept of risk sharing is also introduced in a partnership setting. The concepts developed in Part A are fundamental to the analyses of information in markets in the first volume and in the analyses of performance evaluation in the second volume. Part B extends the analysis to a competitive market setting in which all information is public, and explicitly considers accounting representations of information used in valuation. Part C considers settings in which investors may acquire private information prior to or concurrent with public reports. Finally, Part D considers settings in which managers (or owners) of firms have private information that they can publicly disclose to the capital and product markets."--Jacket.