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Optimal Use of Communication Resources

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Author Info

  • Olivier Gossner
  • Penélope Hernández
  • Abraham Neyman

Abstract

We study a repeated game with asymmetric information about a dynamic state of nature. In the course of the game, the better-informed player can communicate some or all of his information to the other. Our model covers costly and/or bounded communication. We characterize the set of equilibrium payoffs and contrast these with the communication equilibrium payoffs, which by definition entail no communication costs. Copyright The Econometric Society 2006.

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File URL: http://hdl.handle.net/10.1111/j.1468-0262.2006.00720.x
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Bibliographic Info

Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 74 (2006)
Issue (Month): 6 (November)
Pages: 1603-1636

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Handle: RePEc:ecm:emetrp:v:74:y:2006:i:6:p:1603-1636

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References

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  1. FORGES, Françoise, . "An approach to communication equilibria," CORE Discussion Papers RP -721, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Forges, F., 1987. "Universal mechanisms," CORE Discussion Papers 1987004, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Gerardi, Dino, 2004. "Unmediated communication in games with complete and incomplete information," Journal of Economic Theory, Elsevier, vol. 114(1), pages 104-131, January.
  4. Radner, Roy, 1993. "The Organization of Decentralized Information Processing," Econometrica, Econometric Society, vol. 61(5), pages 1109-46, September.
  5. Arrow, Kenneth J, 1985. "Informational Structure of the Firm," American Economic Review, American Economic Association, vol. 75(2), pages 303-07, May.
  6. Ben-Porath, Elchanan, 2003. "Cheap talk in games with incomplete information," Journal of Economic Theory, Elsevier, vol. 108(1), pages 45-71, January.
  7. Roger B. Myerson, 1984. "Multistage Games with Communication," Discussion Papers 590, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. V.D. Divekar, 1972. "Communication," The Indian Economic & Social History Review, , vol. 9(2), pages 235-238, June.
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Citations

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Cited by:
  1. Hertel, Johanna & Smith, John, 2010. "Not so cheap talk: Costly and discrete communication," MPRA Paper 23560, University Library of Munich, Germany.
  2. Antonio Cabrales & Olivier Gossner & Roberto Serrano, 2013. "Entropy and the Value of Information for Investors," American Economic Review, American Economic Association, vol. 103(1), pages 360-77, February.
  3. Dietrichson, Jens & Jochem, Torsten, 2014. "Organizational coordination and costly communication with boundedly rational agents," Comparative Institutional Analysis Working Paper Series 2014:1, Comparative Institutional Analysis, Lund University School of Economics and Management.
  4. Abraham Neyman Null & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy and Nonstationary Bounded Recall," Departmental Working Papers 200514, Rutgers University, Department of Economics.
  5. Aurora García-Gallego & Penélope Hernández-Rojas & Amalia Rodrigo-González, 2013. "Endogenous vs. Exogenous Transmission of Information: An Experiment," Working Papers 2013/06, Economics Department, Universitat Jaume I, Castellón (Spain).
  6. Abraham Neyman, 2008. "Learning Effectiveness and Memory Size," Discussion Paper Series dp476, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  7. Abraham Neyman & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy, and Nonstationary Bounded Recall," Levine's Bibliography 122247000000000920, UCLA Department of Economics.
  8. Amparo Urbano Salvador & Penélope Hernández Rojas, 2000. "Codification schemes and finite automata," Working Papers. Serie AD 2006-28, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  9. Olivier Gossner & Rida Laraki & Tristan Tomala, 2004. "Maxmin computation and optimal correlation in repeated games with signals," Working Papers hal-00242940, HAL.
  10. Gilad Bavly & Abraham Neyman, 2014. "Online Concealed Correlation and Bounded Rationality," Discussion Paper Series dp659, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  11. Antonio Cabrales & Olivier Gossner & Roberto Serrano, 2011. "Entropy and the value of information for investors," Working Papers halshs-00648884, HAL.
  12. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.

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