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facing expected harder competition. The result is consistent with our empirical analysis of the data. We also develop two …
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Tirole (1984) to characterize the different equilibria. We find that outsourcing generally softens competition in the final …
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A well-known theoretical result in the contest literature is that greater heterogeneity decreases performance of contestants because of the "discouragement effect." Leveling the playing field by favoring weaker contestants through bid-caps and favorable tie-breaking rules can reduce the...
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I study a multi-sender signaling game between an uninformed decision maker and two senders with common private information and conflicting interests. Senders can misreport information at a cost that is tied to the size of the misrepresentation. The main results concern the amount of information...
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We perform a controlled experiment to study the welfare effects of competition in a strategic communication environment … competition between senders does not increase the amount of information decision-makers obtain. We find evidence of under … off under competition because their relative gains from persuasion are more than offset by their expenditures in …
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