This study analyzes one-leader and multiple-follower Stackelberg games with private information regarding demand uncertainty. In the equilibrium of the Stackelberg games, a leader's private information becomes public information among followers. This study demonstrates that the strategic...

We analyze the welfare effects of two information disclosure policies using ``beauty contest" coordination games in which information acquisition about the state is endogenous. In particular, we compare a partial publicity policy with a partial transparency policy. We show that a partial...

This study analyzes one-leader and multiple-follower Stackelberg games with demand uncertainty. We demonstrate that the weight on public information regarding a follower's estimation of demand uncertainty determines the strategic relationship between the leader and each follower. When the...

We extend the model of Cornand and Heinemann (2008, Economic Journal) and examine how to implement partial announcement by selling public information when the agents' action is strategic complements. In a game of information acquisition, there exist multiple equilibria and the partial...

We investigate a firm's pre-emptive behavior by comparing Cournot competition and Stackelberg games with one leader and multiple followers, where each firm has access to private information on stochastic demand. We show that the firm prefers pre-emptive quantity choice (Stackelberg leader) to...

We consider implementability and the welfare effects of a partial announcement policy using a model of a beauty contest where agents' actions are strategic complements and where their decisions on public information acquisition are endogenous. The following results are obtained: i) if the...