intentions depends significantly on the socio-economic characteristics of responders. Strong inequity aversion to the other …

information about the (higher-order) beliefs of players. The approach can be applied to a class of belief-dependent preferences …

conveys full information about the quality of the good to uninformed buyers. Deceiving the uninformed buyers by charging a … effect of asymmetric information and learning on the equilibrium outcomes. More uninformed buyers increases the price …

-economic characteristics of players. …

output, market price, information flows, and expected profits. The presence of noise may reduce the informational externality … due to asymmetric information, which increases the firm's expected profits. …

equilibrium. We first study the behavior of the monopoly when price conveys information about quality. We then show the effect of … information flows on welfare, i.e., profit and consumer surplus. …

We address the issue of risk aversion in a competitive equilibrium when some buyers engage in learning and information … risk aversion on the equilibrium outcomes of the model, including the amount of information released by the market. We show … that risk aversion has an effect on the market outcomes but not on the flow of information. In particular, an increase in …