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St 10.06.2015

Prof. Emir Kamenica (Chicago Booth) “Information Environments and the Impact of Competition on Information Provision”

Prof. Emir Kamenica

The University of Chicago Booth School of Business, USA

Authors: Matthew Gentzkow and Emir Kamenica

Abstract: We study symmetric information games where a number of senders choose what information to communicate. We show that the impact of competition on information revelation is ambiguous in general. We then identify a condition on the information environment (i.e., the set of signals available to each sender) that is necessary and sufficient for equilibrium outcomes to be no less informative than the collusive outcome, regardless of preferences. The same condition also provides an easy way to characterize the equilibrium set and governs whether introducing additional senders or decreasing the alignment of senders’ preferences necessarily increases the amount of information revealed.

JEL classification: D83

Keywords: communication, collusion, information revelation

Full Text:  “Information Environments and the Impact of Competition on Information Provision”