What are the value and form of optimal persuasion when information can be generated only slowly? We study this question … in a dynamic model in which a `sender' provides public information over time subject to a graduality constraint, and a … sender's equilibrium value function and information provision. We show that the graduality constraint inhibits information …

public belief, there are strategic complementarities in the acquisition of private information and, if the cost of … information is sufficiently small, a continuum of equilibrium strategies. Imperfect observation of past prices reduces the … different regimes for the evolution of the price, the volume of trade, and information acquisition. …

We analyze price transparency in a dynamic market with private information and interdependent values. Uninformed buyers …

We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our … main result identifies a property of information---the betweenness property---that is both necessary and sufficient for … information aggregation. The characterization provides novel predictions about equilibrium prices in complex, multidimensional …

interaction between payoff and information parameters with asymmetric groups. We find that the strategic complementarity in the … slopes of traders' demands is reinforced by inference effects from prices, and we display the role of payoff and information …

public belief, there are strategic complementarities in the acquisition of private information and, if the cost of … information is sufficiently small, a continuum of equilibrium strategies. Imperfect observation of past prices reduces the … different regimes for the evolution of the price, the volume of trade, and information acquisition. …

In games with incomplete information, conventional hierarchies of belief are incomplete as descriptions of the players …' information for the purposes of determining a player's behavior. We show by example that this is true for a variety of solution … concepts. We then investigate what is essential about a player's information to identify behavior. We specialize to two player …