2min chapter

Game Changer - the game theory podcast cover image

Why sometimes we are better off not knowing – on information design and Bayesian persuasion | with Emir Kamenica

Game Changer - the game theory podcast

CHAPTER

The Importance of Information Design

If you carefully construct information about how long it will take to travel the north route, that's the route without congestion, we can get back to the efficient outcome. It's a Pareto improvement where we're all getting there faster than we would if we all had perfect information. All of us having carefully designed inferior information means we're all better off. This echoes things like the fallacy of composition in game theory.

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