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information is shared, externalities arise. The standard conditions for the two fundamental welfare theorems, thus, implicitly …
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selection. Building on their framework we demonstrate that externalities between agents - an agent's utility upon accepting a … when the size of the externalities is arbitrarily small. Our result highlights the degree of control a principal has over …
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underlying problem is first-contact information asymmetry with negative externalities. Uninformed senders waste recipient …
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