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Miller, Steven J.; Stone, Daniel F. - 2013

accuracy of private information. We show that if individuals value their reputation for the degree to which they are informed ….e., to attempt to be an "opinion leader." Consequently, reputation concerns reduce the average delay of consumption of new … goods and weaken the social information value of early consumption. In an extension, we show that reputation concerns …

Persistent link: https://www.econbiz.de/10014191123

Strategic Release of Information in Platforms : Entry, Competition, and Welfare

Bimpikis, Kostas; Mantegazza, Giacomo - 2021

Besides their role in reducing frictions and facilitating trade, two-sided platforms increasingly collect and process data, e.g., supply and demand forecasts, that can further affect market outcomes. This paper studies how a platform may choose to disclose its information about future demand to...

Persistent link: https://www.econbiz.de/10013226829

Information acquisition and learning from prices over the business cycle

Mäkinen, Taneli; Ohl, Björn - 2012

We study firms' incentives to acquire costly information in booms and recessions to understand the role of endogenous information in explaining asymmetric business cycles. When the economy has been in a boom in the previous period, and firms enter the current period with an optimistic belief,...

Persistent link: https://www.econbiz.de/10010281437

Voronoi languages: Equilibria in cheap-talk games with high-dimensional types and few signals

Jäger, Gerhard; Koch-Metzger, Lars; Riedel, Frank - 2009

We study a communication game of common interest in which the sender observes one of infinite types and sends one of finite messages which is interpreted by the receiver. In equilibrium there is no full separation but types are clustered into convex categories. We give a full characterization of...

Persistent link: https://www.econbiz.de/10010272564

America : A Country in Search of a Leader

Billauer, Barbara Pfeffer - 2008

Oratorical talent and the ability to forge unity and bipartisanship have been touted as important qualifications for our next president. Many assert these traits are necessary to lead us out of our current quagmires, e.g. recession, war, and the crisis in health care. This article examines the...

Persistent link: https://www.econbiz.de/10012724730

Rational Speculation, Financial Crises, and Optimal Policy Responses

Surti, Jay - 2006

This paper develops a theory of the onset of financial crises by solving for the optimal trading strategies of …

Persistent link: https://www.econbiz.de/10012783234

Exposita Notes : Bayesian Learning and Convergence to Nash Equilibria Without Common Priors

Nyarko, Yaw - 1998

Consider an infinitely repeated game where each player is characterized by a "type" which may be unknown to the other players in the game. Suppose further that each player's belief about others is independent of that player's type. Impose an absolute continuity condition on the ex ante beliefs...

Persistent link: https://www.econbiz.de/10014060416

Litigation Cost Strategies, Settlement Offers and Game Theory

Macey-Dare, Rupert - 2011

applications and insights from game theory. Specific issues examined include: optimal settlement agreements, optimal settlement …

Persistent link: https://www.econbiz.de/10014026078

Bayesian learning and convergence to Nash equilibria without common priors

Nyarko, Yaw - In: Economic Theory 11 (1998) 3, pp. 643-655

Persistent link: https://www.econbiz.de/10005597786

The Truth is in the Eye of the Beholder: or Equilibrium in Beliefs and Rational Learning in Games

Nyarko, Y. - C.V. Starr Center for Applied Economics, Department of … - 1998

Games with incomplete information or randomness in the moves of others typically have many decision-theoretically equivalent formulations of the type space. These different formulations correspond to different ways of encoding tha realizations of randomizations in the type of a player. Solution...

Persistent link: https://www.econbiz.de/10005605554