We provide a welfare analysis of the deadline effect in a repeated negotiation game in which costly delay can produce information that improves the quality of the decision. We characterize equilibrium strategies and the evolution of beliefs in continuous time, and study how the length of the...

We study the role rumors play in revolutions using a global game model. Agents with diverse private information rationally evaluate the informativeness of rumors about the regime strength. Without communication among agents, wild rumors are discounted and agents are generally less responsive to...