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Long persuasion games

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Author Info
Forges, Françoise
Koessler, Frédéric

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Abstract

This paper characterizes geometrically the sets of all Nash and perfect Bayesian equilibrium payoffs achievable with unmediated communication in persuasion games, i.e., games with an informed expert and an uninformed decisionmaker in which the expert's information is certifiable. The first equilibrium characterization is provided for unilateral persuasion games, and the second for multistage, bilateral persuasion games. As in Aumann and Hart [R.J. Aumann, S. Hart, Long cheap talk, Econometrica 71 (6) (2003) 1619-1660], we use the concepts of diconvexification and dimartingale. A leading example illustrates both geometric characterizations and shows how the expert, whatever his type, can increase his equilibrium payoff compared to all equilibria of the unilateral persuasion game by delaying information certification.

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File URL: http://www.sciencedirect.com/science/article/B6WJ3-4SK632V-3/2/1852e73787c404cc33995f8bbfb7a912
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Publisher Info
Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 143 (2008)
Issue (Month): 1 (November)
Pages: 1-35
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Handle: RePEc:eee:jetheo:v:143:y:2008:i:1:p:1-35

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Web page: http://www.elsevier.com/locate/inca/622869

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Related research
Keywords: Belief consistency Cheap talk Diconvexification Dimartingale Disclosure of certifiable information Jointly controlled lotteries Long conversation Persuasion Sequential rationality Verifiable types;

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  1. Forges, Francoise & Koessler, Frederic, 2005. "Communication equilibria with partially verifiable types," Journal of Mathematical Economics, Elsevier, vol. 41(7), pages 793-811, November. [Downloadable!] (restricted)
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  2. Ben-Porath, Elchanan, 2003. "Cheap talk in games with incomplete information," Journal of Economic Theory, Elsevier, vol. 108(1), pages 45-71, January. [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
  4. Aumann, Robert J. & Heifetz, Aviad, 2002. "Incomplete information," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 43, pages 1665-1686 Elsevier. [Downloadable!] (restricted)
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    • Aumann, Robert J. & Heifetz, Aviad, 2001. "Incomplete Information," Working Papers 1124, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  5. Shin Hyun Song, 1994. "The Burden of Proof in a Game of Persuasion," Journal of Economic Theory, Elsevier, vol. 64(1), pages 253-264, October. [Downloadable!] (restricted)
  6. Krishna, Vijay & Morgan, John, 2004. "The art of conversation: eliciting information from experts through multi-stage communication," Journal of Economic Theory, Elsevier, vol. 117(2), pages 147-179, August. [Downloadable!] (restricted)
  7. Paul R. Milgrom, 1981. "Good News and Bad News: Representation Theorems and Applications," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 380-391, Autumn. [Downloadable!] (restricted)
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  8. 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. [Downloadable!] (restricted)
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  9. Daniel J. Seidmann & Eyal Winter, 1997. "Strategic Information Transmission with Verifiable Messages," Econometrica, Econometric Society, vol. 65(1), pages 163-170, January.
  10. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-51, November. [Downloadable!] (restricted)
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