agents who are uncertain about choice payoffs and who have access to a flexible, costly information acquisition technology … the decision maker’s prior information to differ across choices. In this paper, I solve the RI-logit model analytically … exogenous change in prior information, thus extending the model’s applicability to a new range of settings where prior …

A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing … average portfolio demand information in equilibrium if they can adjust portfolio size. More information diminishes the … endowments strongly differ from the average portfolio are worse off. Under fully revealing price, information market equilibria …

We investigate whether the simple plurality rule aggregates information efficiently in a large election with three …. With two alternatives and strategic voters, the simple plurality rule aggregates information efficiently in elections with …

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 …

program designed to save jobs and prevent bankruptcies. The information treatment significantly reduces support for the …

contribution is to develop a new theoretically-grounded approach for estimating the marginal value of information and we apply it … to establish the social value of improving hurricane forecasts. On the margin, the value of hurricane information is …

misperceive the performance of their state's education system. Experimentally providing performance information polarizes citizens …' educational performance. Parliamentarians' support for the transparency policy is opportunistic: Performance information increases … educational performance information may incentivize politicians to implement welfare-enhancing reforms. …