Sometimes we believe that others receive harmful information.However, Marschak’s value of information framework … information’s harmfulnessfor oneself. The impact of decision makers’ capabilities to processinformation and of their expectations … maker as a point of reference, this paperintroduces a way for evaluating others’ information from a cross …

-Bayesian way. Individuals either overweigh or underweigh (in Bayesian terms)their private information relative to the public … information revealed by the decisions of othersand each individual’s updating rule is private information. First, we consider a …

industry and environmental groups have disseminatingconflicting private information about GM foods. This paper develops a … unique methodology forvaluing independent third-party information in such a setting and applies this method toconsumers … randomized information and labeling treatments.The average value of third-party information per lab participant is small, but the …

regions. These regions are – as predicted by the local information hypothesis –centers of political and financial decision …

Extreme adverse selection arises when private information has unboundedsupport, and market breakdown occurs when no … support of private information converges to an unboundedsupport. A necessary and sufficient condition for market breakdown is …

which are consistent with the theory.[...] …