We study equilibrium determination in an environment where two kinds of agents have different information sets: The … less informed agents observe only a strict subset of the full information set. All types of agents form expectations … rationally, but agents with limited information need to solve a dynamic signal extraction problem to gather information about the …

We introduce the notion of verifiable information into a model of sequential debate among experts who are motivated by … career concerns. We show that self-censorship may hamper the efficiency of information aggregation, as experts withhold …

We consider an economy where trade is decentralized and agents have incomplete information with respect to the value of … information in the economy. We also compare welfare under price dispersion and one price. Our results show that, despite the …