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

Darrell Duffie, Semyon Malamud and Gustavo Manso

Journal of Economic Theory, 2010, vol. 145, issue 4, 1574-1601

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.

Keywords: Information; percolation; Search; Learning; rates (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (9)

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Related works:
Working Paper: The Relative Contributions of Private Information Sharing and Public Information Releases to Information Aggregation (2009)
Working Paper: The Relative Contributions of Private Information Sharing and Public Information Releases to Information Aggregation (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:145:y:2010:i:4:p:1574-1601

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