The effects of (private, small-scale) piracy on the pricing behavior of producers of information goods are studied … within a unified model of vertical differentiation. Although information goods are assumed to be perfectly horizontally … that competition drives prices up and reduces total surplus. …

Economists usually think that rational voters have little incentives to acquire costly information. We present a … information if media technology is available because then they do not condition their informational decisions on being pivotal …-ride. Further, we show how the quality of information depends on the size of the electorate, the prior knowledge of voters and on …

No voters cast their votes based on perfect information, but better educated and richer voters are on average better … strong correlation between income and political information, Congress representatives vote more conservatively, which is also …

measures of workers’ productivity and trustworthiness and make this information available to potential employers. Our data show …

with various empirical findings, is the assumption that information about output decisions flows more freely within a …

have better information about the state of the world than voters. Three types of institutions are compared: direct …

appropriate information provision enhances efficiency. We discuss extensions of the model and argue that subsidies may be a … property of a signalling equilibrium to overcome credibility problems in information provision. In addition we point out … possible problems with overreaction to public information. Furthermore, we suggest a new focus for development policy. …