This study examines whether the content of buyer information and the timing of its dissemination affects seller market power. We construct laboratory markets with differentiated goods and costly buyer search in which sellers simultaneously post prices. The experiment varies the information on...

This article reports results from an experiment comparing the effects of vague versus precise pre-play communication in a highly competitive two-player game with conflicting interests. In the classic Traveler’s Dilemma, non-binding precise messages about intent of play are pure cheap talk. We...