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Dynamic sender–receiver games

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  • Renault, Jérôme
  • Solan, Eilon
  • Vieille, Nicolas

Abstract

We consider a dynamic version of sender–receiver games, where the sequence of states follows an irreducible Markov chain observed by the sender. Under mild assumptions, we provide a simple characterization of the limit set of equilibrium payoffs, as players become very patient. Under these assumptions, the limit set depends on the Markov chain only through its invariant measure. The (limit) equilibrium payoffs are the feasible payoffs that satisfy an individual rationality condition for the receiver, and an incentive compatibility condition for the sender.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 148 (2013)
Issue (Month): 2 ()
Pages: 502-534

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Handle: RePEc:eee:jetheo:v:148:y:2013:i:2:p:502-534

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

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Keywords: Sender–receiver; Dynamic games; Bayesian games; Communication; Repeated games;

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Cited by:
  1. Mikhail Golosov & Vasiliki Skreta & Aleh Tsyvinski & Andrea Wilson, 2013. "Dynamic Strategic Information Transmission," Working Papers 13-03, New York University, Leonard N. Stern School of Business, Department of Economics.
  2. Chandrasekher, Madhav, 0. "Unraveling in a repeated moral hazard model with multiple agents," Theoretical Economics, Econometric Society.

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