Players who have a common interest are engaged in a game with incomplete information. Before playing they get differential signals that stochastically depend on the actual state of nature. These signal not only provide the players with partial information about the state of nature but also serve...

We study firms' incentives to acquire private information in a setting where subsequent competition leads to firms' later signaling their private information to rivals. Due to signaling, equilibrium prices are distorted, and so while firms benefit from obtaining more precise private information,...

We study firms' incentives to acquire private information on cost in a duopoly signaling game. Firms first choose how much to invest in information acquisition and then engage in dynamic price competition. In equilibrium firms acquire too little information from the perspective of industry...