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 … well, including those in which voters vote informatively. -- efficient information aggregation ; simple plurality rule …

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 …

information about them. But, in many settings of interest, evaluators have a choice about how much information to acquire about a … information acquisition amplifies discriminatory outcomes in a simulated hiring environment. Across evaluators, we vary the … beliefs about a candidate after acquiring more information, and persists in final evaluations. This bias has a significantly …

Information about the future may be instrumentally useful, yet scary. For example, many patients shy away from precise … interacts with an instrumental need for information. The same result emerges when patients rely on probability weighting …

message’s meaning by aggregating these reasons; her private information tells her whether some potential reasons support the …

risks. We compare parametric to indemnity insurance in a simple model where the insurance company has superior information … about the probability of the event (reversed asymmetric information). We find that indemnity insurance tends to be welfare …