Schedule
■Upcoming Seminars
Date: June 3 14:30 -17:50 (Japanese Standard Time)
Location: Waseda University (Waseda Campus) Bldg 3, 3F, 3-304 Hybrid Event
Language: JAPANESE
Speakers/titles:
1. 14:30 - 16:00 Hiroto Sato (University of Tokyo)
"Information Design in Pandora's Problem" (joint with Ryo Shirakawa)
Abstract
Information plays a pivotal role in determining search behavior in many economic situations. We examine Weitzman's (1979) ordered search model augmented with a planner, who designs information to induce a desired search behavior. The main theorem provides an optimal information structure, which consists of binary signals. We also characterize the planner-optimal search order. Furthermore, the optimal information structure minimizes the welfare of searching agents.
2. 16:20 - 17:50 Masaki Miyashita (HKU Business School)
"LQG Information Design" (joint with Takashi Ui)
Abstract
A linear-quadratic-Gaussian (LQG) game is an incomplete information game with quadratic payoff functions and Gaussian payoff states. This study addresses an information design problem to identify an information structure that maximizes a quadratic objective function. Gaussian information structures are found to be optimal among all information structures. Furthermore, the optimal Gaussian information structure can be determined by semidefinite programming, which is a natural extension of linear programming. This paper provides sufficient conditions for the optimality and suboptimality of both no and full information disclosure. In addition, we characterize optimal information structures in symmetric LQG games and optimal public information structures in asymmetric LQG games, with each structure presented in a closed-form expression.