We analyze consumers’ voluntary information disclosure in a platform setting. For
given consumer participation, the platform and sellers tend to prefer limited disclosure
of consumer valuations, in contrast to consumers. With endogenous consumer participation, seller and platform incentives may be misaligned, and sellers may be better off
when consumers can disclose their valuations. A regulator acting in the best interest
of consumers and/or sellers may want to intervene and force the platform to employ a
disclosure technology that enables consumers to voluntarily disclose information from
a richer message space.