[Theory] FW: Theory Lunch 2023-02-22T18:30:00.000Z

[Christopher Kang]

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Sent: Wednesday, February 22, 2023 12:02:31 AM (UTC-06:00) Central Time (US & Canada)
To: Antares Chen <antaresc at uchicago.edu>
Cc: Christopher Kang <ctkang at uchicago.edu>
Subject: Theory Lunch 2023-02-22T18:30:00.000Z


Today's Theory Lunch talk:

Haifeng Xu (UChicago): Competitive Information Design for Pandora’s Box

https://uchicago.zoom.us/j/91616319229?pwd=dDdXQnFXeGNubFRkZy9hTDQrcWlXdz09<https://urldefense.com/v3/__https://uchicago.zoom.us/j/91616319229?pwd=dDdXQnFXeGNubFRkZy9hTDQrcWlXdz09__;!!BpyFHLRN4TMTrA!6HlHF9YyI18aBwseV3kI4VBs_bSA5qvX4eFtUxTGigsEbDXvOFlPu6Im7CBVEXXYYKzSDntFhK6MHxJ1Ne-8MJxiS8_hSoGoZlA$>

Description: We study a natural competitive-information-design variant for the Pandora’s Box problem introduced in a seminal work by Weitzman (1979). In our model, each box is associated with a strategic information sender who can design what information about the box’s prize value to be revealed to the agent when she inspects the box. This variant with strategic boxes is naturally motivated by a wide range of real-world economic applications for Pandora’s box, with notable examples ranging from PhD admission open houses, to Internet service subscriptions, to startup fund raising. The main contributions of this article are two-fold: (1) we study informational properties of Pandora’s Box by analyzing how a box’s partial information revelation affects the agent’s optimal decisions; and (2) we fully characterize the pure symmetric equilibrium for the boxes’ competitive information revelation, which reveals various insights regarding information competition and the resultant agent utility at equilibrium.

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