We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our … main result identifies a property of information—the betweenness property that is both necessary and sufficient for … information aggregation. The characterization provides novel predictions about equilibrium prices in complex, multidimensional …

An entrepreneur contracts with a consultant, who is protected by limited liability, to supply information about the … probability than a bad one. The entrepreneur makes an upfront payment that the consultant can either invest in information … entrepreneurs so long as his referrals remain high. The principal under-utilizes information in settings (i) and (ii). In setting …

LLMs are emerging as information sources that influence organizational knowledge, though trust in them varies. This … in traditional information sources. These findings highlight that comparing trust in LLMs to other forms of societal …

How does information transmission change when it requires attracting the attention of receivers? This paper combines an … experiments that exogenously expose receivers to the content created. Attention incentives lead to significantly less information … being transmitted, but not more factually inaccurate content. These incentives increase information demand and the knowledge …

, many social situations involve another person who is in a position to impose this information. How does the presence of a … potential informer affect information, behavior, and welfare in social decisions with moral wiggle-room? We introduce a third …-party informer into the moral wiggle-room game. Almost half of the dictators tried to avoid information only to have it imposed upon …

aggregate information when the population is large, in any equilibrium. Here, we study the performance of large elections with … information is not aggregated. The main driving force is that, everything else equal, voters are more likely to be pivotal if the …

This paper analyzes the welfare effects of private and unilateral disclosure of sensitive information in a sequential … about the buyer's willingness to pay and optimize her pricing strategy. The welfare effects caused by this information … him if an acceptance is revealed. Additionally, the information exchange improves the societal welfare by reducing …

acquire costly unobservable information about it before taking the decision. The problem has features of moral hazard and … hidden information since the acquisition of information and its content are unobservable to the principal. The optimal …

A principal needs to make a decision. An expert is able to supply information that is helpful to the principal, but … based on his reported information and on the true state of nature, which is revealed ex post. There is limited liability … - payments can never be negative. The principal is uncertain about the expert's information acquisition technology: she knows …