Producing to Signal: Private Information in Dynamic Quantity Competition -- by Andrew Sweeting, Xuezhen Tao, Qian Wang

This research was originally supported by US National Science Foundation Grant SES-1658670 (Sweeting) and National Natural Science Foundation of China Grant 72673107 (Tao). Xinlu Yao collaborated on this project when she was a graduate student at the University of Maryland, and we are very grateful for Xinlu's excellent work and insights, and Mario Leccese was a critical collaborator on complementary work in Leccese, Sweeting and Tao (2025). We thank Dan Vincent for useful comments, and Gaurab Aryal for helpful discussions about Aryal and Zincenko (2024). AI (Claude) was used in the summer of 2026 to improve the performance of previously written MATLAB code. All errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.