Work

Social Value of Public Information: Morris and Shin (2002) Is Actually Pro Transparency, Not Con

Year: 2005

Type: report

Abstract: The main result of Morris and Shin (2002) (restated in papers by Amato, Morris, and Shin (2002) and Amato and Shin (2003) and commented upon by Economist ( 2004)) has been presented and interpreted as an anti-transparency result: more public information can be bad.However, some scrutiny of the result shows that it is actually pro transparency: except in very special circumstances, more public information is good.Furthermore, for a conservative benchmark of equal precision in public and private information, social welfare is higher than in a situation without public information.

Source: National Bureau of Economic Research

DOI: 10.3386/w11537

Author: Lars Svensson

Institutions: National Bureau of Economic Research, Stockholm School of Economics, Princeton University

Language: English

Topic: Game Theory and Applications

Subfield: Management Science and Operations Research

Field: Decision Sciences

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1553579794

Cites: 12

Cited by: 155

Related to: 10