Competing with Equivocal Information
AbstractThis paper studies strategic disclosure by multiple senders competing for prizes awarded by a single receiver. They decide whether to disclose a piece of information that is both verifiable and equivocal (it can inuence the receiver both ways). The standard unrav- eling argument breaks down: if the commonly known probability that her information is favorable is high, a single sender never discloses. Competition restores full disclosure only if some of the senders are sufficiently unlikely to have favorable information. When the senders are uncertain about each other's strength, however, all symmetric equilibria approach full disclosure as competition increases.
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Bibliographic InfoPaper provided by HAL in its series Working Papers with number hal-00675126.
Date of creation: 29 Feb 2012
Date of revision:
Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00675126
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Strategic Information Transmission; Persuasion Games; Communication; Competition; Multiple Senders.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-03-21 (All new papers)
- NEP-CTA-2012-03-21 (Contract Theory & Applications)
- NEP-MIC-2012-03-21 (Microeconomics)
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