Consider the problem of information disclosure for a planner who faces two agents interacting in a state-dependent multi-action prisoners’ dilemma. We find conditions under which the planner can make use of his superior information by disclosing some of it to the agents, and conditions under...

Consider the problem of information disclosure for a planner who faces two agents interacting in a state-dependent multi-action prisoners' dilemma. We find conditions under which the planner can make use of his superior information by disclosing some of it to the agents, and conditions under...

Consider the problem of information disclosure for a planner who faces two agents interacting in a state-dependent multi-action prisoners?dilemma. We ?nd conditions under which the planner can make use of his superior information by disclosing some of it to the agents, and conditions under which...

A principal contracts with agents who have diverse abilities to forecast changes in their future tastes. While the principal knows that the agent’s tastes are changing, the agent believes that with probability ?, their future preferences will be identical to their present preferences. The...

A model of group decision-making is studied, in which one of two alternatives must be chosen. While group members differ in their valuations of the alternatives, everybody prefers some alternative to disagreement. Our model is distinguished by three features: private information regarding...

This paper presents an experimental study of a mechanism that is commonly used to sell multiple heterogeneous goods. The novel feature of this procedure is that instead of selling each good in a separate auction, the seller executes a single auction in which buyers, who may be interested in...

This paper presents experimental evidence that when individuals are about to make a given decision under risk, they are willing to pay for information on the likelihood that this decision is ex-post optimal, even if this information will not affect their decision. Our findings suggest that this...