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The Wald Problem and the Relation of Sequential Sampling and Ex-Ante Information Costs
Morris, Stephen - 2019
We consider the two state sequential sampling problem of Wald (1945). We show that any distribution of posteriors can be attained and that the ex-ante cost of attaining any probability distribution over posteriors equals the expected change of the log likelihood ratio. With many states, not all...
Persistent link: https://www.econbiz.de/10012901671
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Information and Market Power
Bergemann, Dirk - 2018
We consider demand function competition with a finite number of agents and private information. We analyze how the … structures, hence we can provide sharp and robust bounds on some but not all equilibrium statistics.We then compare demand …
Persistent link: https://www.econbiz.de/10012908597
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Information and Market Power
Bergemann, Dirk - 2015
We analyze demand function competition with a finite number of agents and private information. We show that the nature … can arise in equilibrium under any information structure. In demand function competition, the agents condition their … demand on the endogenous information contained in the price.We compare the set of feasible outcomes under demand function to …
Persistent link: https://www.econbiz.de/10013018182
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Information and Market Power
Morris, Stephen - 2015
We analyze demand function competition with a finite number of agents and private information. We show that the nature … can arise in equilibrium under any information structure. In demand function competition, the agents condition their … demand on the endogenous information contained in the price.We compare the set of feasible outcomes under demand function to …
Persistent link: https://www.econbiz.de/10013018251
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The Limits of Price Discrimination
Bergemann, Dirk - 2013
We analyze the welfare consequences of a monopolist having additional information about consumers' tastes, beyond the prior distribution; the additional information can be used to charge different prices to different segments of the market, i.e., carry out "third degree price discrimination."We...
Persistent link: https://www.econbiz.de/10013082002
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The Limits of Price Discrimination
Bergemann, Dirk - 2014
We analyze the welfare consequences of a monopolist having additional information about consumers' tastes, beyond the prior distribution; the additional information can be used to charge different prices to different segments of the market, i.e., carry out "third degree price discrimination."We...
Persistent link: https://www.econbiz.de/10013055412
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The Limits of Price Discrimination
Bergemann, Dirk - 2014
We analyze the welfare consequences of a monopolist having additional information about consumers' tastes, beyond the prior distribution; the additional information can be used to charge different prices to different segments of the market, i.e., carry out "third degree price discrimination." We...
Persistent link: https://www.econbiz.de/10013046768
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The Limits of Price Discrimination
Bergemann, Dirk - 2013
We analyze the welfare consequences of a monopolist having additional information about consumers' tastes, beyond the prior distribution; the additional information can be used to charge different prices to different segments of the market, i.e., carry out "third degree price discrimination."We...
Persistent link: https://www.econbiz.de/10013079627
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The Limits of Price Discrimination
Bergemann, Dirk - 2014
We analyze the welfare consequences of a monopolist having additional information about consumers tastes, beyond the prior distribution; the additional information can be used to charge different prices to different segments of the market, i.e., carry out "third degree price discrimination". We...
Persistent link: https://www.econbiz.de/10013063932
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Information, Interdependence, and Interaction : Where Does the Volatility Come from?
Bergemann, Dirk - 2013
We analyze a class of games with interdependent values and linear best responses. The payoff uncertainty is described by a multivariate normal distribution that includes the pure common and pure private value environment as special cases. We characterize the set of joint distributions over...
Persistent link: https://www.econbiz.de/10013072255