The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini …

appropriate information provision enhances efficiency. We discuss extensions of the model and argue that subsidies may be a … property of a signalling equilibrium to overcome credibility problems in information provision. In addition we point out … possible problems with overreaction to public information. Furthermore, we suggest a new focus for development policy. …

for information aggregation ensure that individuals behave as if they were engaging in informative voting over the level … of public good provision. It is shown that the use of information by an optimal provision rule is inversely related to …

conclude that it might be better to reduce the precision of public signals or entirely withhold information. This paper shows … that public information should always be provided with maximum precision, but under certain conditions not to all agents …

to contribute to the team output. We vary the type of information the second mover receives prior to his effort choice …

and not on the public signal. Nonetheless, public information is valuable as it facilitates truthful subjective evaluation …This paper studies a principal-agent relation in which the principal's private information about the agent's effort …