Using the introduction of high-speed rail (HSR) as an exogenous shock to costs of information acquisition, we show that … reductions in information-acquisition costs lead to (i) a significant increase in information production, evidenced by a higher … information lead to these effects becoming more pronounced. Importantly, more information production is also associated with …

Using the introduction of high-speed rail as exogenous shocks to costs of information acquisition, we show that … reductions in information-acquisition costs lead to a significant increase in information production and improvement in output … that information production represents the channel through which acquisition costs affect output quality. We corroborate …

signalling mechanism is harmful for this environment. Though signals transmit previously unavailable information, they also … facilitate information asymmetry that leads to coordination failures. As a result, the introduction of a signalling mechanism … lessens the expected number of matches when signals are informative. -- Signaling ; Cheaptalk ; Matching …