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Competing with Equivocal Information

  • Eduardo Perez-Richet

    (Department of Economics, Ecole Polytechnique - CNRS : UMR7176 - Polytechnique - X)

This 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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File URL: http://hal.archives-ouvertes.fr/docs/00/67/51/26/PDF/cahier_de_recherche_2012-07.pdf
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Paper provided by HAL in its series Working Papers with number hal-00675126.

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Date of creation: 29 Feb 2012
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Handle: RePEc:hal:wpaper:hal-00675126
Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00675126
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  1. David P. Myatt & Justin P. Johnson, 2004. "On the Simple Economics of Advertising, Marketing, and Product Design," Economics Series Working Papers 185, University of Oxford, Department of Economics.
  2. Heski Bar-Isaac & Guillermo Caruana & Vicente Cuñat, 2010. "Information Gathering and Marketing," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 19(2), pages 375-401, 06.
  3. Mathis, Jérôme, 2008. "Full revelation of information in Sender-Receiver games of persuasion," Journal of Economic Theory, Elsevier, vol. 143(1), pages 571-584, November.
  4. Wilson, Chris M., 2010. "Ordered search and equilibrium obfuscation," International Journal of Industrial Organization, Elsevier, vol. 28(5), pages 496-506, September.
  5. Dziuda, Wioletta, 2011. "Strategic argumentation," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1362-1397, July.
  6. Sourav Bhattacharya & Arijit Mukherjee, 2013. "Strategic information revelation when experts compete to influence," RAND Journal of Economics, RAND Corporation, vol. 44(3), pages 522-544, 09.
  7. Glenn Ellison & Alexander Wolitzky, 2009. "A Search Cost Model of Obfuscation," NBER Working Papers 15237, National Bureau of Economic Research, Inc.
  8. Kyle Bagwell & Per Baltzer Overgaard, 2005. "Look How Little I’m Advertising!," CIE Discussion Papers 2005-02, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
  9. Giovannoni, Francesco & Seidmann, Daniel J., 2007. "Secrecy, two-sided bias and the value of evidence," Games and Economic Behavior, Elsevier, vol. 59(2), pages 296-315, May.
  10. Daniel J. Seidmann & Eyal Winter, 1997. "Strategic Information Transmission with Verifiable Messages," Econometrica, Econometric Society, vol. 65(1), pages 163-170, January.
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