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INFORMATION UNRAVELING REVISITED: DISCLOSURE OF HORIZONTAL ATTRIBUTES

机译:修改后的信息散失:水平属性的公开

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摘要

This paper analyzes in a spatial framework how much information a seller discloses about the variety he sells when he faces a buyer with a privately known taste for variety. I identify an equilibrium in which, for each possible variety, the seller's optimal strategy consists of either fully disclosing the variety or disclosing how far it is from the buyer's expected taste. The set of varieties the seller fully discloses monotonically expands as the buyer's taste for variety becomes stronger. I show that this is the unique undefeated equilibrium. From a policy perspective, mandating full disclosure is socially harmful.
机译:本文在空间框架中分析了当卖方面对具有私人品味的买方时,卖方会透露多少有关其所出售品种的信息。我确定了一种均衡,在该均衡中,对于每种可能的品种,卖方的最佳策略包括完全公开该品种或公开其与买方的期望口味之间的距离。卖方充分揭示的品种组合随着买方对品种的口味变强而单调扩展。我证明这是独特的不败平衡。从政策的角度来看,强制全面披露对社会有害。

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