Risk and Revelation: Changing the Value of Information
AbstractA different approach is introduced to determine the value of an information-sharing agreement: the measure of risk aversion/loving. This approach reveals the relationship between information-sharing models and the risk literature. It also allows uncertainty regarding the slope of a firm's own demand function to be examined, which previous work eschews. The results suggest that the incentive to reveal information is more prevalent than previously thought: firms prefer to commit to reveal private valued information in both quantity and price competition. This differs from previous work where the incentive to commit depended on the type of competition. Copyright 1998 by The London School of Economics and Political Science
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Bibliographic InfoPaper provided by Michigan State - Econometrics and Economic Theory in its series Papers with number 9209.
Length: 18 pages
Date of creation: 1993
Date of revision:
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Postal: MICHIGAN STATE UNIVERSITY, DEPARTMENT OF ECONOMICS, EAST LANSING MICHIGAN 48824 U.S.A.
Web page: http://econ.msu.edu/
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econometrics ; econometric models ; risk;
Other versions of this item:
- Creane, Anthony, 1998. "Risk and Revelation: Changing the Value of Information," Economica, London School of Economics and Political Science, vol. 65(258), pages 247-61, May.
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- Genesove, D. & Mullin, W., 1997.
"The Sugar Institute Learns to Organize Information Exchange,"
97-3, Massachusetts Institute of Technology (MIT), Department of Economics.
- David Genesove & Wallace Mullin, 1999. "The Sugar Institute Learns to Organize Information Exchange," NBER Chapters, in: Learning by Doing in Markets, Firms, and Countries, pages 103-144 National Bureau of Economic Research, Inc.
- David Genesove & Wallace P. Mullin, 1997. "The Sugar Institute Learns to Organize Information Exchange," NBER Working Papers 5981, National Bureau of Economic Research, Inc.
- Young-Ro Yoon, 2008. "Strategic Disclosure of Valuable Information within Competitive Environments," Caepr Working Papers 2008-022, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington.
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