The Relative Contributions of Private Information Sharing and Public Information Releases to Information Aggregation

We calculate learning rates when agents are informed through both public and private observation of other agents' actions. We provide an explicit solution for the evolution of the distribution of posterior beliefs. When the private learning channel is present, we show that convergence of the di...

Full description

Bibliographic Details
Main Authors: Duffie, Darrell (Author), Malamud, Semyon (Author), Manso, Gustavo (Contributor)
Other Authors: Sloan School of Management (Contributor)
Format: Article
Language:English
Published: Elsevier, 2011-07-18T14:25:51Z.
Subjects:
Online Access:Get fulltext