respective systems from a informational perspective. Building on the economics of information we show that it is meaningful to … distinguish between internalisation and externalisation as two fundamentally different ways of dealing with information in … production and use of information. It will be argued that internalisation is the prevailing mode of information processing in …

This paper studies the influence of information on entry choices in a competition with a controlled laboratory … experiment. We investigate whether information provision attracts mainly high productivity individuals and reduces competition … productivity. Information on the opponent is a promising nudge to raise individuals' awareness towards the complexity of the …

. This paper studies this conjecture in a version of this model that includes private information and heterogeneous agents. A … any degree of private information in the neoclassical growth model will deny Ramsey's conjecture, if efficient allocations …

Empirically, social dilemma under information asymmetry are often much less pronounced than theory predicts. Traders … experience a winner's curse and maintain efficiency enhancing exchange of commodities when theory predicts none. Especially under …

was decreased by forty percent relative to the control. (3) The party information significantly affected the choices … information interacted with educational level in only eight out of forty choice sets, suggesting that even the more educated … two to ten relative to the control. These findings suggest that the party information helped the respondents to articulate …

Money markets have two functions, the allocation of liquidity and the processing of information. We develop a model … liquidity shortage. But forward contracts do not provide incentives for the large bank to pass on its information to other banks …. In contrast, lines of credit between the large and the small banks ensure that the large bank provides its information to …

(employer). Productivity is private information to the senders, and the receiver processes imperfect signals (applications) to … screen among applicants. The information-processing technology is imperfect: the accuracy of each signal in predicting the …, information overload occurs as there exist equilibria in which too many people apply and the receiver neglects some applications …