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A principal acquires information about a shock and then discloses it to an agent. After the disclosure, the principal … principal maximizes his expected payoff by controlling the quality of his information, and the disclosure rule. We show that …
Persistent link: https://www.econbiz.de/10010332326
Persistent link: https://www.econbiz.de/10011304936
In his classic article An Essay on Bargaining Schelling (1956) argues that ignorance might actually be strength rather than weakness. We test and confirm Schelling's conjecture in a simple take-it-or-leave bargaining experiment where the proposer can choose between two possible offers. Option A...
Persistent link: https://www.econbiz.de/10010282588
In his classic article “An Essay on Bargaining” Schelling (1956) argues that ignorance might actually be strength rather than weakness. We test and confirm Schelling's conjecture in a simple take-it-or-leave-it bargaining experiment where the proposer can choose between two possible offers....
Persistent link: https://www.econbiz.de/10011048133
In his classic article "An Essay on Bargaining" Schelling (1956) argues that ignorance might actually be strength rather than weakness. We test and confirm Schelling's conjecture in a simple take-it-or-leave bargaining experiment where the proposer can choose between two possible offers. Option...
Persistent link: https://www.econbiz.de/10009371183
This paper studies the incentives for interim voluntary disclosure of verifiable information in probabilistic all … strong-form disclosure principle is robust with respect to correlation, partitional evidence, randomized disclosures …
Persistent link: https://www.econbiz.de/10014333781
This paper studies the incentives for interim voluntary disclosure of verifiable information in probabilistic all … favorite will try to discourage the underdog - so that the contest unravels. Self-disclosure is optimal even though a weak …
Persistent link: https://www.econbiz.de/10012420693
We model firms' quality disclosure and pricing in the presence of cursed consumers, who fail to be sufficiently … that work under monopoly, i.e. mandatory disclosure, third party disclosure and consumer education, may all increase …
Persistent link: https://www.econbiz.de/10013197545
We model firms’ quality disclosure and pricing in the presence of cursed consumers, who fail to be sufficiently ….e. mandatory disclosure, third party disclosure and consumer education may all increase exploitation and decrease welfare. Even …
Persistent link: https://www.econbiz.de/10011872103
We study experimentally persuasion games in which a sender (e.g., a seller) with private information provides verifiable but potentially vague information (e.g., about the quality of a product) to a receiver (e.g., a buyer). Various theoretical solution concepts such as sequential equilibrium or...
Persistent link: https://www.econbiz.de/10011936493