output, market price, information flows, and expected profits. The presence of noise may reduce the informational externality … due to asymmetric information, which increases the firm's expected profits. …

We address the issue of risk aversion in a competitive equilibrium when some buyers engage in learning and information … risk aversion on the equilibrium outcomes of the model, including the amount of information released by the market. We show … that risk aversion has an effect on the market outcomes but not on the flow of information. In particular, an increase in …

uninformed buyers. We then compare the signaling Cournot equilibrium with the full-information Cournot equilibrium. Signaling is …. In other words, the profits under signaling Cournot equal the profits of a cartel in a full-information environment. …

tenure. The option value generated by the acquisition of more information is key to understanding firm dynamics as the … trade, but their effectiveness crucially depends on the speed of learning. …

-to-noise ratio. A close relationship with expected optimal bias under cardinal information helps explain this surprising result …

uninformed buyers. We then compare the signaling Cournot equilibrium with the full-information Cournot equilibrium. Signaling is …. In other words, the profits under signaling Cournot equal the profits of a cartel in a full-information environment. …

conveys full information about the quality of the good to uninformed buyers. Deceiving the uninformed buyers by charging a … effect of asymmetric information and learning on the equilibrium outcomes. More uninformed buyers increases the price …

This paper develops and structurally estimates a learning model in which firms acquire information about workers … jobs and firms. Because of the trade--off between learning and short--run profit maximization, a firm's optimal job … firm competition, the job--dependent quality of performance signals can cause distortions in information acquisition within …