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Thursday, June 24, 2004. 1 I think we now know that the best equilibrium changes discontinuously in changes in bias. We proved this for the case where b is in the neighborhood of 16. The upshot of this is that theres no general rnaking possible between centralized and decentralized information. In the neighborhood of b16, decentralized is strictly better for b. 2 What is the contribution of our model relative to Battaglini. Heres a link to the article. According to the abstract there. Bubbles- Mo.CONTENT
This web page johnsresearch.blogspot.com states the following, "Thursday, June 24, 2004." We saw that the webpage said " 1 I think we now know that the best equilibrium changes discontinuously in changes in bias." It also said " We proved this for the case where b is in the neighborhood of 16. The upshot of this is that theres no general rnaking possible between centralized and decentralized information. In the neighborhood of b16, decentralized is strictly better for b. 2 What is the contribution of our model relative to Battaglini. Heres a link to the article. According to the abstract there."