Costly Persuasion
نویسندگان
چکیده
In many settings of economic interest, information is ex ante symmetric, but one agent designs the informational environment—i.e., controls what additional information will be generated. A number of recent papers study such situations, with applications including Internet advertising (Rayo and Segal 2010), communication in organizations (Jehiel 2013), bank regulation (Gick and Pausch 2012; Goldstein and Leitner 2013), medical testing (Schweizer and Szech 2013), medical research (Kolotilin 2013), government control of the media (Gehlbach and Sonin 2013), entertainment (Ely, Frankel, and Kamenica 2013), and price discrimination (Bergemann, Brooks, and Morris 2013). Identifying the optimal information structure in such settings is a difficult problem if approached by brute force. Given a state space Ω, the set of all information structures, or signals, is as large as ( Δ ( Ω ) ) | Ω | . Moreover, in
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