We study how information affects equilibria and welfare in games. For an agent, more precise information about an … obtain either a non-increasing mean or a non-decreasing-mean spread of actions whenever information precision increases for … environments. In persuasion games, we derive sufficient conditions that lead to extremal disclosure of information. In …

We propose an equivalent formulation of a two player information design problem in terms of choosing a copula, as … information and a seller's incentives to provide information in a bilateral trade setting, and the role of insider information in …

information asymmetry, is undertaken, and a simple multi-factor model of deferral – involving both confidence and information …

The standard Bayesian model implies that information can never have a negative value. We put this implication to the … proof. Our paper provides the first test of the value (positive or negative) of information under uncertainty. We show that … the "Bayesian implication" stands in conflict with the information-averse behavior that is revealed in our experiment …

We examine whether the desire for more information is people's dominant motive for reading economic and political news … experimentally vary people's beliefs about the informativeness of news. Inconsistent with the desire for more information being the … information reduce their demand for news from this newspaper. Furthermore, treated respondents who think that a news outlet is …

In "Marketing Information: A Competitive Analysis,'' Sarvary and Parker (1997) (S&P) [Marketing Science, 16(1): 24 …-38] argue that in part of the parameter space that they considered, a reduction in the price of one information product can lead … to an increase in demand for another information product, i.e., information products can be gross complements. This …

Consider an investment problem with strategic complementarities and incomplete information about returns. This paper … shows that investors aggregate their private information in equilibrium by trading a token and observing its market price … over multiple rounds before making the investment decision. This result is robust to the information environment. The paper …

agents can uncover information they will determine which states can be distinguished and thus which goods are traded … agents from discovering the information that would invalidate their expectations. Inefficiency can also occur if agents have … contemplate an information discovery must be proportional to the probabilities of the events that could be revealed. In the most …

When there is strategic complementarity and all agents have access to public information, but only a subset of them has … access to private information, strategic complementarity within the subset of privately-informed agents enhances the focal … power of public information. This results to an expected social welfare function that is convex in the precision of both …

We study buyer-optimal information structures under monopoly pricing. The information structure determines how well the … seller. Motivated by the regulation of product information, we assume that the seller can disclose more if the learning is … imperfect. Extension proof information structures prevent such disclosure, which is a constraint in the design problem. Our main …