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Information Design in Smooth Games

Author

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  • Alexey Smolin

    (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Takuro Yamashita

    (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

We study information design in games where players choose from a continuum of ac-tions and have continuously differentiable payoffs. We show that an information structure is optimal when the equilibrium it induces can also be implemented in a principal-agent contracting problem. Building on this result, we characterize optimal information struc-tures in symmetric linear-quadratic games. With common values, targeted disclosure is robustly optimal across all priors. With interdependent and normally distributed values, linear disclosure is uniquely optimal. We illustrate our findings with applications in venture capital, Bayesian polarization, and price competition.

Suggested Citation

  • Alexey Smolin & Takuro Yamashita, 2025. "Information Design in Smooth Games," Working Papers hal-05308091, HAL.
    • Handle: RePEc:hal:wpaper:hal-05308091
    Note: View the original document on HAL open archive server: https://hal.science/hal-05308091v1
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    Cited by:

    1. Anton Kolotilin & Roberto Corrao & Alexander Wolitzky, 2025. "Persuasion and Matching: Optimal Productive Transport," Journal of Political Economy, University of Chicago Press, vol. 133(4), pages 1334-1381.
    2. Masaki Miyashita & Takashi Ui, 2023. "LQG Information Design," Papers 2312.09479, arXiv.org, revised Aug 2025.

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