Research & Publications

Working Papers

We consider an economy where many sellers sell identical goods to many buyers. Each seller has a unit supply and each buyer has a unit demand. The only possible information flow about prices is through costly advertising. We show that there is a unique equilibrium where the sellers use mixed strategies in pricing which leads to price and advertisement distributions. With convex advertising costs each buyer sends only one advertisement in the market. We also delineate a class of advertising costs which are sufficiently concave to ensure that sellers may send multiple advertisements in equilibrium.

Work in Progress

  • ’Multidimensional Information Acquisition and Efficient Mechanism Design’, Helsinki Graduate School of Economics, 2019.


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