Information Advantage in a Public Good Economy with Multiplicative Structure of Utilities

摘要

This paper extends results on information advantage in Cournot oligopoly to a public good economy with uncer tainty and private information where the state-dependent utilities have a multiplicative structure. We show that in a Bayesian-Nash equilibrium where consumers' contribu tions are positive in all states of nature, a consumer with superior information is rewarded with a higher ex ante ex pected utility. Our counter example shows that in the case where one consumer does not contribute, information dis advantage might emerge. Thus, the inferiority assumption is essential to obtain our results.