Discussion Paper No. 832 STRATEGIC OBSCURITY IN THE FORECASTING OF DISASTERS
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چکیده
منابع مشابه
Strategic obscurity in the forecasting of disasters
A principal acquires information about a shock and then discloses it to an agent. After the disclosure, the principal and agent each decide whether to take costly preparatory actions that yield mutual benefits but only when the shock strikes. The principal maximizes his expected payoff by controlling the quality of his information, and the disclosure rule. We show that even when the acquisition...
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