-ante and ex-post information asymmetry between the uninformed buyer and the informed seller. Previous literature demonstrates … the verifiability of the quality provided and the expert's liability. In this paper, we identify the information … customers' information might actually lead to welfare losses. Further, we highlight the supremacy of the assumption regarding …

a simple framework with two distinct types of agents on market side 1, we show that under incomplete information the … extent of platform access for high-demand agents is strictly reduced below the benchmark level with complete information. In …

Global games are widely used for equilibrium selection to predict behaviour in complete information games with … players or actions. In addition, we give an elementary proof that robustness to incomplete information implies noise …

-informed about the information that others have, and who therefore find it impossible to ignore pieces of news even though they know … information is incorporated into the market price. I discuss implications for how mass media can hurt the informational efficiency …

The coordination plays central role in the economics. The conventional economic theory looks at the market and … enterprise (or hierarchy) as two different, separated manner of coordination of economic goods and services. However the modern … several types of hybrid forms) of coordination (or governance structure) necessarily live together in the current economic …

earlier rounds of the auction any information about their valuations. If the seller observes only the winning bid in each … the seller attempts to suppress some of the information revealed in the auction, for example, by learning only whether an …

easily be reinterpreted as a model of monopolistic provision of excludable public goods under private information. An …

Implicit in the text-book monopoly is an assumption of complete and instantaneous information or knowledge available to … develop a dynamic monopoly model. In particular, we assume first that the monopolist has only partial information about the … cost function is linear. It is shown that the gradient learning or search process based on locally obtained information …