Information Unraveling Revisited: Disclosure of Horizontal Attributes
在空间框架下分析卖家面对口味未知的买家时如何披露产品多样性信息，发现均衡策略是全额披露或披露与买家预期口味的距离，且强制全额披露对社会有害。
This paper analyzes in a spatial framework how much information a seller discloses about the variety he sells when he faces a buyer with a privately known taste for variety. I identify an equilibrium in which, for each possible variety, the seller's optimal strategy consists of either fully disclosing the variety or disclosing how far it is from the buyer's expected taste. The set of varieties the seller fully discloses monotonically expands as the buyer's taste for variety becomes stronger. I show that this is the unique undefeated equilibrium. From a policy perspective, mandating full disclosure is socially harmful.