Stiglitz, Joseph E.; Kosenko, Andrew - National Bureau of Economic Research - 2024
We survey aspects of the intellectual development of the economics of information from the 1970s to today. We focus … here on models where information is communicated indirectly through actions. Basic results, such as the failure of the … equilibrium, when it exists, on both what information is available, and how information can be acquired, have been shown to be …