. We assume that the seller from the outset has private information about the fraction of the surplus that he can realize … on his own, and show that this leads to higher investment compared to the complete information case. This positive effect …

general, the more the receiver is informed, the less information she can extract from the sender. In fact, when the receiver … is as informed as the sender, no information can be conveyed via cheap talk for an arbitrarily small preference bias …

This paper analyzes delegation and joint decision making in an environment with private information and partially …

signal high costs. Dishonest low cost and honest high cost agents pool on the complete information outcome with high costs …

using a “one principal-two agent” context with real effort. We confirm the theoretical prediction that information …

? Bentham (1787) proposed an innovative prison concept based on information asymmetries -- "the panopticon" -- as an answer to … this question. We consider different information structures in a stylized model of a prison, in which a warden chooses a … that the information structure corresponding to the panopticon often performs best, especially if there are many prisoners …