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We introduce random evolving lotteries to study preference for non‐instrumental information. Each period, the agent enjoys a flow payoff from holding a lottery that will resolve at the terminal date. We provide a representation theorem for non‐separable risk consumption preferences and use...
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We analyze political campaigns between two parties with opposing interests. Parties pay a cost to provide information to a voter who chooses the policy. The information flow is continuous and stops when parties quit. The parties' actions are strategic substitutes: a party with a lower cost...
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