In many strategic environments, information acquisition is a central component of the game that is played. Being uncertain about a payoff-relevant state, a player in a game has a two-fold incentive to acquire information: learning the state and learning what others know. We develop a model of...

In many strategic environments, information acquisition is a central component of the game that is played. Being uncertain about a payoff-relevant state, a player in a game has a twofold incentive to acquire information: learning the state and learning what others know. We develop a model of...