EXECUTIVE TAKEAWAYS
■ The government can usually persuade reluctant firms to fortify. ■ Persuasion always improves the general welfare. ■ The government may persuade more firms under high intelligence than any other scenario. ■ Full information disclosure is never optimal. ■ Updating the intelligence apparatus always increases welfare.
Jomon A. Paul, Professor of Quantitative Analysis Abhra Roy, Associate Professor of Economics
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