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Cheap Talk and Reputation in Repeated Pretrial Negotiation

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  • Jeong-Yoo Kim

Abstract

Infinitely repeated interaction between a defendant and a plaintiff can enhance the credibility of cheap talk and improve efficiency in outcomes that would be feasible without cheap talk. The basic driving force is reputation effect. If t he players are concerned about their reputation, cheap talk cannot be taken as meaningless even in a game where the interests of the players are sufficiently conflicting, because possible current gains from opportunistic behavior can be wiped out by future losses in payoff from damaged.

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Bibliographic Info

Article provided by The RAND Corporation in its journal RAND Journal of Economics.

Volume (Year): 27 (1996)
Issue (Month): 4 (Winter)
Pages: 787-802

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Handle: RePEc:rje:randje:v:27:y:1996:i:winter:p:787-802

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Cited by:
  1. In-Uck Park, 2000. "Cheap Talk Reputation and Coordination of Differentiated Experts," Econometric Society World Congress 2000 Contributed Papers, Econometric Society 1680, Econometric Society.
  2. Jung, Hanjoon Michael, 2008. "Paradox of Credibility," MPRA Paper 7443, University Library of Munich, Germany.
  3. Li, Ming & Tymofiy Mylovanov, 2009. "Credibility for Sale: the Effect of Disclosure on Information Acquisition and Transmission," Working Papers, Concordia University, Department of Economics 09008, Concordia University, Department of Economics, revised Oct 2009.
  4. TINA M. Edgar A. Ghossoub, . "Economic Development and the Welfare Costs of Inflation It has been widely observed that the role of money in the ?nancial system varies across developing and advanced countries. While the connections," Working Papers, College of Business, University of Texas at San Antonio 0034, College of Business, University of Texas at San Antonio.
  5. Hanjoon Michael Jung, 2008. "Paradox of Credibility," Microeconomics Working Papers 22267, East Asian Bureau of Economic Research.
  6. Croson, Rachel & Boles, Terry & Murnighan, J. Keith, 2003. "Cheap talk in bargaining experiments: lying and threats in ultimatum games," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 51(2), pages 143-159, June.

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