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Credibility and determinism in a game of persuasion

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  • Sher, Itai

Abstract

This paper studies a game of persuasion. A speaker attempts to persuade a listener to take an action by presenting evidence. Glazer and Rubinstein (2006) showed that when the listener's decision is binary, neither randomization nor commitment have any value for the listener, and commented that the binary nature of the decision was important for the commitment result. In this paper, I show that concavity is the critical assumption for both results: no value to commitment and no value to randomization. Specifically, the key assumption is that the listener's utility function is a concave transformation of the speaker's utility function. This assumption holds vacuously in the binary model. The result that concavity implies credibility allows us to dispense with the assumption that the listener's decision is binary and significantly broadens the scope of the model.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 71 (2011)
Issue (Month): 2 (March)
Pages: 409-419

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Handle: RePEc:eee:gamebe:v:71:y:2011:i:2:p:409-419

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Web page: http://www.elsevier.com/locate/inca/622836

Related research

Keywords: Optimal persuasion rules Credibility Determinism Concavity Commitment Evidence;

References

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  1. A. Rubinstein & J. Glazer, . "Debates and Decisions, On a Rationale of Argumentation Rules," Princeton Economic Theory Papers 00s7, Economics Department, Princeton University.
  2. Rubinstein, Ariel & Glazer, Jacob, 2006. "A study in the pragmatics of persuasion: a game theoretical approach," Theoretical Economics, Econometric Society, vol. 1(4), pages 395-410, December.
  3. Shin, Hyun Song, 2002. "Disclosures and Asset Returns," CEPR Discussion Papers 3345, C.E.P.R. Discussion Papers.
  4. Paul Milgrom & John Roberts, 1986. "Relying on the Information of Interested Parties," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 18-32, Spring.
  5. Sher, Itai, 2014. "Persuasion and dynamic communication," Theoretical Economics, Econometric Society, vol. 9(1), January.
  6. V. Crawford & J. Sobel, 2010. "Strategic Information Transmission," Levine's Working Paper Archive 544, David K. Levine.
  7. Paul R. Milgrom, 1979. "Good Nevs and Bad News: Representation Theorems and Applications," Discussion Papers 407R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. H.S. Shin, 1994. "News Management and the Value of Firms," RAND Journal of Economics, The RAND Corporation, vol. 25(1), pages 58-71, Spring.
  9. Jacob Glazer & Ariel Rubinstein, 2004. "On Optimal Rules of Persuasion," Econometrica, Econometric Society, vol. 72(6), pages 1715-1736, November.
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Citations

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Cited by:
  1. Sher, Itai & Vohra, Rakesh, 0. "Price discrimination through communication," Theoretical Economics, Econometric Society.
  2. Hakenes, Hendrik & Schnabel, Isabel, 2013. "Regulatory Capture by Sophistication," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79991, Verein für Socialpolitik / German Economic Association.
  3. Sher, Itai, 2014. "Persuasion and dynamic communication," Theoretical Economics, Econometric Society, vol. 9(1), January.
  4. Ariane Lambert-Mogiliansky, 2014. "Social Accountability: Persuasion and Debate to Contain Corruption," PSE Working Papers halshs-00922092, HAL.
  5. repec:hal:wpaper:halshs-00922092 is not listed on IDEAS
  6. Midjord, Rune, 2012. "Competitive Pressure and Job Interview Lying: A Game Theoretical Analysis," DFAEII Working Papers 2012-14, University of the Basque Country - Department of Foundations of Economic Analysis II.

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