Knowing What Others Know: Coordination Motives in Information Acquisition
نویسندگان
چکیده
منابع مشابه
Knowing What Others Know: Coordination Motives in Information Acquisition
We explore how optimal information choices change the predictions of strategic models. When a large number of agents play a game with strategic complementarity, information choices exhibit complementarity as well: If an agent wants to do what others do, they want to know what others know. This makes heterogeneous beliefs difficult to sustain and may generate multiple equilibria. In models with ...
متن کاملKnowing What Others Know: Coordination Motives in Information Acquisition Additional Notes
This section shows that the equilibrium of the action game in section 1 of the main text is unique. It does that by adapting an argument first made Angeletos and Pavan (2007, propositions 1 and 3) to our environment. The idea of the proof is that there is a social planner problem such that every equilibrium of our model is also a solution to this planning problem. The planning problem is strict...
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There has been considerable interest in assessing whether psychotherapists have enhanced abilities in empathy and whether those abilities influence treatment outcomes. However, to date, studies have been hindered by inconsistent definitions of empathy and a reliance on assessment via self-report. The unique aim of this study was to ascertain the empathic abilities of psychotherapists using a mu...
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The concept of common knowledge concerning higher orders of knowledge has seen exciting new developments in the fields of philosophy, game theory, statistics, economics and cognitive science in the recent decades. Even though information lies at the heart of accounting and capital markets research, these new developments have remained at the periphery of these fields. Common knowledge thinking ...
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ژورنال
عنوان ژورنال: Review of Economic Studies
سال: 2009
ISSN: 0034-6527,1467-937X
DOI: 10.1111/j.1467-937x.2008.00515.x