Information Percolation with Equilibrium SearchDynamics

We solve for the equilibrium dynamics of information sharing in a large pop-ulation. Each agent is endowed with signals regarding the likely outcome of arandom variable of common concern. Individuals choose the effort with whichthey search for others from whom they can gather additional information. Whentwo agents meet, they share their information. The information gathered is fur-ther shared at subsequent meetings, and so on.[...]

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Year of publication:	2009-01-03
Authors:	Duffie, Darrell ; Malamud, Semyon ; Manso, Gustavo
Institutions:	National Centre of Competence in ResearchFinancial Valuation and Risk Management
Subject:	Gleichgewichtsmodell \| Dynamik \| dynamics \| Informationsfluß

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1 Introduction
2 Related Literature
3 Model Primitives
4 Stationary Measure
5 Optimality
6 Equilibrium
6.1 Equilibria with Minimal Search
7 Policy Interventions
7.1 Subsidizing Search
7.2 Educating Agents at Birth
Appendices
References

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