ecological dumping. It turned out that harmonised policies are rarely optimal under perfect information, but some rationale for … them is granted when asymmetric information between the Commission and national governments is considered. This paper … information, it makes harmonisation a much more attractive option. Under asymmetric information, it affects the governments …

ecological dumping. It turned out that harmonised policies are rarely optimal under perfect information, but some rationale for … them is granted when asymmetric information between the Commission and national governments is considered. This paper … information, it makes harmonisation a much more attractive option. Under asymmetric information, it affects the governments …

Global games of regime change that is, coordination games of incomplete information in which a status quo is abandoned … to accumulate information over time and take actions in many periods. It is shown that dynamics may lead to multiple … equilibria under the same information assumptions that guarantee uniqueness in the static benchmark. Multiplicity originates in …

We study firms' incentives to acquire private information in a setting where subsequent competition leads to firms …' later signaling their private information to rivals. Due to signaling, equilibrium prices are distorted, and so while firms … benefit from obtaining more precise private information, the value of information is reduced by the price distortion. Thus …

We study a two-player game of strategic experimentation with private information in which agents choose the timing of … of strategic delay of investments in equilibrium to the primitives of the information structure. Agents invest without … learning feedback that may either raise or depress beliefs and investment choices. We highlight how private information in …

negligible information frictions, our proposed program achieves the first-best outcome at zero expected cost …

) have heterogeneous beliefs on their shared information about a risky asset and analyze the insider's incentive to … voluntarily disclose this information to the public. We find that, with heterogeneous beliefs, the insider and informed outsider … exploit their shared information differently and this might give rise to the insider's voluntary disclosure of this shared …