-from-trade. One reason is that information about reputation trumps pricing in the sense that traders usually do not conduct business …

A Bayesian supply function equilibrium is characterized in a market where firms have private information about their …, competitiveness is affected by the parameters of the information structure: supply functions are steeper with more noise in the … the collusive level. Furthermore, competition in supply functions aggregates the dispersed information of firms (the …

and private values in the absence of exogenous noise. It is shown how private information yields more market power than … the levels seen with full information. Results obtained here are broadly consistent with evidence from asset auctions, may …

equilibrium is characterized; the equilibrium is privately revealing and the incentives to acquire information are preserved …. Price-cost margins and bid shading are affected by the parameters of the information structure: supply functions are steeper … common value case they tend to the collusive level. Private information coupled with strategic behavior induces additional …

the two-player case with complete and incomplete information, and in so doing identify what we call the “Herodotus Paradox.” …

mechanism is delegated to an agent of the buyer. The agent has private information about the buyer’s preferences and may collude …