It is well known that, whereas in one-agent contexts the value of information is always positive, in strategic situations, this is not always the case. We will consider the class of games for which, under a specific information structure, there exists a unique Pareto payoff profile, and we show...

Ths authors consider a first-price auction when the ranking of bidders' private valuations is common knowledge among bidders. This new informational framwork is motivated by several applications, from procurement to privatization. It induces a particular asymmetric auction model with affiliated...

We report an experiment on two treatments of an ultimatum minigame.In one treatment, responders' reactions are hidden to proposers.We observe high rejection rates reflecting responders' intrinsic resistance to unfairness.In the second treatment, proposers are informed, allowing for dynamic...