endogenous decisions whether to incur an information-acquisition cost (and observe a private estimate), or forgo competing … rules and information flows are quite general; participation decisions may be simultaneous or sequential. The resulting …

This paper studies the problem of information revelation in a multi-stage tournament where the agents’ effort in each …’ effort incentive through the use of a feedback policy, which transforms his private information into a public announcement … should use the no-feedback policy that reveals no information, or the full-feedback policy that reveals all his information …

mechanisms are often employed to extract the information on companies’ abilities and to allocate licenses efficiently. However …