The value of history is maximized by a mix of fully informative and uninformative private signals, and a data seller's optimal information design is less informative than the social optimum.
The American Economic Review, 78, 96--103
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Value of History in Social Learning: Applications to Markets for History
The value of history is maximized by a mix of fully informative and uninformative private signals, and a data seller's optimal information design is less informative than the social optimum.