The Advantages of Imprecise Information
在成本信息不完全的双寡头市场中，拥有较不精确先验信息的企业反而可能获益，因为生产经验能产生内部信号，促使企业扩大产量以获取信息价值。
A firm in a duopolistic market in which there is incomplete information about cost may benefit from having less precise prior information than its competitor. Experience in production provides firms with internally generated private signals about cost. As a result, the marginal return to production includes the value of information as well as the marginal revenue of production. Hence, the firm with less information about cost has the greater incentive to produce. Imprecise prior information thus provides a mechanism that enables the firm to commit to expand production relative to its rival.