The relative contributions of private information sharing and public information releases to information aggregation

A-Tier
Journal: Journal of Economic Theory
Year: 2010
Volume: 145
Issue: 4
Pages: 1574-1601

Authors (3)

Duffie, Darrell (not in RePEc) Malamud, Semyon (École Polytechnique Fédérale d...) Manso, Gustavo (not in RePEc)

Score contribution per author:

1.341 = (α=2.01 / 3 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We calculate learning rates when agents are informed through public and private observation of other agents' actions. We characterize the evolution of the distribution of posterior beliefs. If the private learning channel is present, convergence of the distribution of beliefs to the perfect-information limit is exponential at a rate equal to the sum of the mean arrival rate of public information and the mean rate at which individual agents are randomly matched with other agents. If, however, there is no private information sharing, then convergence is exponential at a rate strictly lower than the mean arrival rate of public information.

Technical Details

RePEc Handle
repec:eee:jetheo:v:145:y:2010:i:4:p:1574-1601
Journal Field
Theory
Author Count
3
Added to Database
2026-01-25