• 2018-02-12

Summary and Conclusion

1. Privacy concerns are more likely to harm new sellers and can be
welfare-reducing.
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
marketplace.

Broader Application: In political competition, more info channels
benefits incumbents or new politicians? (e.g. Petrova et al. (2017))