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The War of Information

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  • Faruk Gul
  • Wolfgang Pesendorfer

Abstract

We analyse political contests (campaigns) between two parties with opposing interests. Parties provide costly information to voters who choose a policy. The information flow is continuous and stops when both parties quit. Parties' actions are strategic substitutes: increasing one party's cost makes that party provide more and its opponent provide less information. For voters, parties' actions are complements and hence raising the advantaged party's cost may be beneficial. Asymmetric information adds a signalling component resulting in a belief threshold at which the informed party's decision to continue campaigning offsets other unfavourable information. Copyright 2012, Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/restud/rds017
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Bibliographic Info

Article provided by Oxford University Press in its journal The Review of Economic Studies.

Volume (Year): 79 (2012)
Issue (Month): 2 ()
Pages: 707-734

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Handle: RePEc:oup:restud:v:79:y:2012:i:2:p:707-734

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  1. Cripps, Martin & Keller, Godfrey & Rady, Sven, 2003. "Strategic Experimentation with Exponential Bandits," Discussion Papers in Economics 4, University of Munich, Department of Economics.
  2. Giuseppe Moscarini & Lones Smith, 2001. "The Optimal Level of Experimentation," Econometrica, Econometric Society, vol. 69(6), pages 1629-1644, November.
  3. Dixit, Avinash K, 1987. "Strategic Behavior in Contests," American Economic Review, American Economic Association, vol. 77(5), pages 891-98, December.
  4. Patrick Bolton & Christopher Harris, 1999. "Strategic Experimentation," Econometrica, Econometric Society, vol. 67(2), pages 349-374, March.
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Cited by:
  1. Brendan Daley & Brett Green, 2012. "Waiting for News in the Market for Lemons," Econometrica, Econometric Society, vol. 80(4), pages 1433-1504, 07.
  2. Christopher Cotton & Arnaud Dellis, 2012. "Informational Lobbying and Agenda Distortion," Working Papers 2013-03, University of Miami, Department of Economics.
  3. Seel, Christian & Strack, Philipp, 2013. "Gambling in contests," Journal of Economic Theory, Elsevier, vol. 148(5), pages 2033-2048.

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