We analyze in a two-phase model the optimal mix of ex ante experimentation and ex post learning for the dynamic adoption of activities with uncertain payoffs. In a first pre-introduction phase, costly experimentation is undertaken to decide whether to adopt the activity or abandon...

This paper characterizes equilibrium persuasion through selective disclosure based on the personal information that senders acquire about the preferences and orientations of receivers, with applications to strategic marketing and campaigning. We derive positive and normative implications...

We introduce a model of advice in which firms steer advisors through nonlinear incentive schemes. In addition to developing an isomorphism to pricing with mixed bundling, we obtain three main insights. First, firms optimally use nonlinear bonuses to economize on the rent paid to advisors....