Cabrales, Antonio; Gottardi, Piero - Dipartimento di Economia, Università Ca' Foscari Venezia - 2008
In this paper we study, within a formal model, market environments where information is costly to acquire and is of use also to potential competitors. Agents may then sell, or buy, reports - of unverifiable quality - over the information acquired and choose the trades in the market on the basis...