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Pareto inferior unraveling, the favorite may prefer to shut down communication, but this is never the case for the underdog …
Persistent link: https://www.econbiz.de/10012420336
This paper studies the incentives for interim voluntary disclosure of verifiable information in probabilistic all-pay contests with two-sided incomplete information. Private information may concern marginal cost, valuations, and ability. Our main result says that, if the contest is uniformly...
Persistent link: https://www.econbiz.de/10014321141
"defiant" behavior. Moreover, while individually rational for the marginal type, the unraveling may be strictly Pareto inferior … all-pay auction. The proofs employ lattice-theoretic methods and an improved version of Jensen's inequality. …
Persistent link: https://www.econbiz.de/10011969190
Pareto inferior unraveling, the favorite may prefer to shut down communication, but this is never the case for the underdog …
Persistent link: https://www.econbiz.de/10012420693
We study the strategic disclosure of demand information and product-market strategies of duopolists. In a setting where both firms receive information with some probability, we show that firms selectively disclose information in equilibrium in order to influence their competitorś product-market...
Persistent link: https://www.econbiz.de/10011301237
This paper studies the incentives for interim voluntary disclosure of verifiable information in probabilistic all-pay contests with two-sided incomplete information. Private information may concern marginal cost, valuations, and ability. Our main result says that, if the contest is uniformly...
Persistent link: https://www.econbiz.de/10014333781
Pareto inferior unraveling, the favorite may prefer to shut down communication, but this is never the case for the underdog …
Persistent link: https://www.econbiz.de/10013251018
This paper studies a contest in which players with unobservable types may form an alliance in a pre-stage of the game to join their forces and compete for a prize. We characterize the pure strategy equilibria of this game of incomplete information. We show that if the formation of an alliance is...
Persistent link: https://www.econbiz.de/10010487967
We study the interaction between multiple information designers who try to influence the behavior of a set of agents. When the set of messages available to each designer is finite, such games always admit subgame perfect equilibria. When designers produce public information about independent...
Persistent link: https://www.econbiz.de/10012115785
We analyze information design games between two designers with opposite preferences and a single agent. Before the agent makes a decision, designers repeatedly disclose public information about persistent state parameters. Disclosure continues until no designer wishes to reveal further...
Persistent link: https://www.econbiz.de/10013273785