Abstract
We derive a parametric restriction necessary and sufficient for an equilibrium to exist in the model of Lenkey (2014). Given this restriction, the equilibrium is unique, correcting findings in the original article that multiple equilibria may exist with advance disclosure.
Original language | English (US) |
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Pages (from-to) | 78-81 |
Number of pages | 4 |
Journal | Economics Letters |
Volume | 182 |
DOIs | |
State | Published - Sep 2019 |
All Science Journal Classification (ASJC) codes
- Finance
- Economics and Econometrics