Signal Disclosure in Information Design (Job Market Paper)

    This paper studies the information design environment where the designer is restricted to using messages that players can publicly and verifiably disclose. I employ a belief-based approach to characterizing the designer's optimal payoff among disclosure-proof outcomes, utilizing the methods of Mathevet et al. (2020). Any outcome can be induced by sending messages specifying a player's full beliefs and a menu of contingent action recommendations. I provide a class of games which I call leader-follower games for which the designer can do no better than public information when disclosure is introduced. Complementarities between players that are beneficial to the designer in the usual environment can backfire once signal disclosure is allowed.