Information, trust and the limits of “intelligent accountability” in investment decision making: Insights from the Madoff case Hervé STOLOWY HEC School of Management, Paris, France Richard BAKER Adelphi University, Garden City, NY, USA Thomas JEANJEAN ESSEC Business School, France, Singapore Martin MESSNER University of Innsbruck, Austria CR 956-2011 ISBN : 2-85418-956-6 © Groupe HEC, 78351 JOUY-EN-JOSAS CEDEX, France, 2011 ISBN : 2-85418-956-6