This paper studies informational externalities between contracts. Two principals (for instance the governments of two … of the agents are correlated, there are informational externalities between the two principal-agent pairs. Inefficient …

externalities that create a coordination problem among principals. Contract disclosure enables principals to design the contract … consider externalities on other principals caused by the effects of their contract choices on the monitor's scrutiny allocation …

how communication mitigates this free-riding problem in an investment-timing game. In our baseline investment-timing game …. If more investors invest at the same time, they share the costs. In the communication treatment, subjects can freely … communicate before choosing the investment time. We find that in groups of two players, communication increases cooperation and …

into categories by value, can be credible even when interests are too opposed to support communication along any single …, thereby precluding any possibility of exaggeration. The communication gains from ordinal cheap talk can be substantial with …

We provide a game theoretic analysis of how power shapes the clarity of communication. We analyze information … by an experiment. Finally, we show how partial information transmission can lead to communication failure, and show how …