Showing 1 - 10 of 152
We study settings in which, prior to playing an incomplete information game, players observe many draws of private … signals about the state from some information structure. Signals are i.i.d. across draws, but may display arbitrary … correlation across players. For each information structure, we define a simple learning efficiency index, which only considers the …
Persistent link: https://www.econbiz.de/10013215438
Large internet platforms collect data from individual users in almost every interaction on the internet. Whenever an individual browses a news website, searches for a medical term or for a travel recommendation, or simply checks the weather forecast on an app, that individual generates data. A...
Persistent link: https://www.econbiz.de/10012889864
Large internet platforms collect data from individual users in almost every interaction on the internet. Whenever an individual browses a news website, searches for a medical term or for a travel recommendation, or simply checks the weather forecast on an app, that individual generates data. A...
Persistent link: https://www.econbiz.de/10012862220
This paper explores the consequences of information in sealed bid first price auctions. For a given symmetric and … Bayesian equilibrium for some information structure. In particular, we characterize maximum and minimum revenue across all … information structures when bidders may not know their own values, and maximum revenue when they do know their values. Revenue is …
Persistent link: https://www.econbiz.de/10013017815
We explore the impact of private information in sealed-bid first-price auctions. For a given symmetric and arbitrarily … information structures and equilibria. The information and equilibrium attaining this minimum leave bidders indifferent between …
Persistent link: https://www.econbiz.de/10012992717
We explore the impact of private information in sealed-bid first-price auctions. For a given symmetric and arbitrarily … information structures and equilibria. The information and equilibrium attaining this minimum leave bidders indifferent between …
Persistent link: https://www.econbiz.de/10012982245
We consider the role of the common prior for robust implementation in an environment with interdependent values. Specifically, we investigate a model of public good provision which allows for negative and positive informational externalities. In the corresponding direct mechanism, the agents'...
Persistent link: https://www.econbiz.de/10012775991
We explore the impact of private information in sealed bid first price auctions. For a given symmetric and arbitrarily … information structures and equilibria. The information and equilibrium attaining this minimum leave bidders uncertain whether they …
Persistent link: https://www.econbiz.de/10013011350
from the previous players to fathom the past. Each player is therefore both a receiver of information with respect to his …
Persistent link: https://www.econbiz.de/10014220427
a large negative impact on long-run learning outcomes. We consider a population of agents who obtain information about … distribution can generate extreme breakdowns of information aggregation, wherein the long run all agents incorrectly assign … how the nature of misperception shapes these coarse long-run outcomes. Third, we show that how fragile information …
Persistent link: https://www.econbiz.de/10014101225