The War of Information
We analyze political campaigns between two parties with opposing interests. Parties pay a cost to provide information to a voter who chooses the policy. The information flow is continuous and stops when parties quit. The parties' actions are strategic substitutes: a party with a lower cost provides more but its opponent provides less information. For voters, the parties' actions are complements and raising the low-cost party's cost may be beneficial. Asymmetric information adds a signaling component in the form of a belief-threshold beyond which unfavorable information is offset by the informed party's decision to continue campaigning.
|Date of creation:||Sep 2010|
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- Giuseppe Moscarini & Lones Smith, 2001. "The Optimal Level of Experimentation," Econometrica, Econometric Society, vol. 69(6), pages 1629-1644, November.
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"Strategic Experimentation with Exponential Bandits,"
Discussion Papers in Economics
4, University of Munich, Department of Economics.
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