Information in Conflicts
We consider a two-player contest for a prize of common but uncertain value. We show that less resources are spent in equilibrium if one party is privately informed about the value of the prize than if either both agents are informed or neither agent is informed. Furthermore, the uninformed agent is ex ante strictly more likely to win the prize than is the informed agent.
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|Date of creation:||19 Jun 2000|
|Date of revision:|
|Publication status:||Published in Journal of Economic Theory, 2003, pages 121-136.|
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