a range of simple experimental games that test these theories more directly than existing experiments. Our experiments …

conduct experiments on simple two-person and three-person games with binary choices that test these theories more directly …

one seller, full information revelation never occurs in equilibrium and the only information transmission happens in the … first period. The outcome with n sellers depends both on the structure of sellers' information and the intensity of … competition (absence of clienteles), information is fully and immediately revealed to the buyers in every equilibrium for n large …