Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5071342 | Games and Economic Behavior | 2017 | 19 Pages |
Abstract
A number of senders with no ex ante private information publicly choose signals whose realizations they observe privately. Senders then convey verifiable messages about their signal realizations to a receiver who takes a non-contractible action that affects the welfare of all players. The space of available signals includes all conditional distributions of signal realizations and allows any sender to choose a signal that is arbitrarily correlated with signals of others. We characterize the information revealed in pure-strategy equilibria and show that greater competition tends to increase the amount of information revealed.
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Authors
Matthew Gentzkow, Emir Kamenica,