EconPapers    
Economics at your fingertips  
 

The Design and Price of Information

Dirk Bergemann, Alessandro Bonatti and Alex Smolin

No 11412, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper analyzes the trade of information between a data buyer and a data seller. The data buyer faces a decision problem under uncertainty and seeks to augment his initial private information with supplemental data. The data seller is uncertain about the willingness-to-pay of the data buyer due to this private information. The data seller optimally offers a menu of (Blackwell) experiments as statistical tests to the data buyer. The seller exploits differences in the beliefs of the buyerÂ’s types to reduce information rents while limiting the surplus that must be sacriÂ…ced to provide incentives.

Keywords: Selling information; Experiments; Mechanism design; Price discrimination; Product differentiation (search for similar items in EconPapers)
JEL-codes: D42 D82 D83 (search for similar items in EconPapers)
Date: 2016-07
New Economics Papers: this item is included in nep-com and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://cepr.org/publications/DP11412 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: The Design and Price of Information (2018) Downloads
Working Paper: The Design and Price of Information (2017) Downloads
Working Paper: The Design and Price of Information (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:11412

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP11412

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().

 
Page updated 2025-03-23
Handle: RePEc:cpr:ceprdp:11412