Social Value of Information and Endogenous Information Structures
| Project/Area Number |
15K03348
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | Hitotsubashi University |
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Principal Investigator |
Ui Takashi 一橋大学, 大学院経済学研究科, 教授 (60312815)
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| Project Period (FY) |
2015-04-01 – 2018-03-31
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| Project Status |
Completed (Fiscal Year 2017)
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| Budget Amount *help |
¥3,250,000 (Direct Cost: ¥2,500,000、Indirect Cost: ¥750,000)
Fiscal Year 2017: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2016: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2015: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
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| Keywords | ゲーム理論 / ベイジアンゲーム / LQGゲーム / 情報構造 / 情報設計 / 経済理論 |
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| Outline of Final Research Achievements |
To improve social welfare or performance of an organization, what information should the leader of the organization disclose to its members? To study this issue theoretically, we propose an LQG (linear-quadratic Gaussian) information design problem. Consider a Bayesian game, in which the payoff functions are quadratic, and the payoff state and players' signals are jointly normally distributed. Such a Bayesian game is referred to as an LQG game. LQG information design is a problem to find the optimal Gaussian information structure that maximizes a quadratic objective function, which is formulated as semidefinite programming. We study two types of LQG information design: information design with exogenous private information and information design with endogenous private information. We obtain the optimal information structures assuming symmetric payoff structures. In the case of general payoff structures, we obtain the optimal public information structures.
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Report
(4 results)
Research Products
(9 results)
