On the equivalence of information design by uninformed and informed principals

Andriy Zapechelnyuk

Economic Theory, 2023, vol. 76, issue 4, No 1, 1067 pages

Abstract: Abstract We compare information design, or Bayesian persuasion, by an uninformed principal (who has no information about the state of the world when making her choice) and by an informed principal (who has private information and can condition her choice on that information). We show that, under the assumptions of monotone preferences of the principal and nondegenerate information structures, a Pareto undominated outcome is implementable by the uninformed principal if and only if it is implementable by the informed principal.

Keywords: Information design; Bayesian persuasion; Informed principal; Implementation; Sequential equilibrium (search for similar items in EconPapers)
JEL-codes: D82 D83 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s00199-023-01495-z

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