Selling to Advised Buyers

Andrey Malenko , Anton Tsoy  

In many cases, buyers are not fully informed about their valuations and rely on the advice of biased experts. For... Read More

Information and Competition with Symmetry

Pete Kyle,Pete Kyle, Mina Lee  

This paper investigates the strategic foundations for rational expectations equilibrium. In the model, risk-averse traders with two signals—private information and... Read More