Summary and Conclusion
1. Privacy concerns are more likely to harm new sellers and can be
2. Individually rational decisions on information disclosure might not
be socially optimal when aggregated.
Broader Implication: Less privacy concerns lead to more
information availability, which, in turn, reduces barriers to entry to
Broader Application: In political competition, more info channels
benefits incumbents or new politicians? (e.g. Petrova et al. (2017))