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Strategic Communication With Minimal Verification

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  • Gabriel Carroll
  • Georgy Egorov

Abstract

A receiver wants to learn multidimensional information from a sender, and she has the capacity to verify just one dimension. The sender's payoff depends on the belief he induces, via an exogenously given monotone function. We show that by using a randomized verification strategy, the receiver can learn the sender's information fully in many cases. We characterize exactly when it is possible to do so. In particular, when the exogenous payoff function is submodular, we can explicitly describe a full‐learning mechanism; when it is (strictly) supermodular, full learning is not possible. In leading cases where full learning is possible, it can be attained using an indirect mechanism in which the sender chooses the probability of verifying each dimension.

Suggested Citation

  • Gabriel Carroll & Georgy Egorov, 2019. "Strategic Communication With Minimal Verification," Econometrica, Econometric Society, vol. 87(6), pages 1867-1892, November.
    • Handle: RePEc:wly:emetrp:v:87:y:2019:i:6:p:1867-1892
    DOI: 10.3982/ECTA15712
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    Cited by:

    1. Paul M. Anglin & Yanmin Gao, 2023. "Value of Communication and Social Media: An Equilibrium Theory of Messaging," The Journal of Real Estate Finance and Economics, Springer, vol. 66(4), pages 861-903, May.
    2. Matthias Lang, 2020. "Mechanism Design with Narratives," CESifo Working Paper Series 8502, CESifo.
    3. Jérôme Mathis & Marcello Puca & Simone M. Sepe, 2021. "Deliberative Institutions and Optimality," CSEF Working Papers 614, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 09 Jun 2021.
    4. Lodh, Rishab & Dey, Oindrila, 2023. "“Fake news alert!”: A game of misinformation and news consumption behavior," MPRA Paper 118371, University Library of Munich, Germany.
    5. Chen, Ying & Oliver, Atara, 2023. "When to ask for an update: Timing in strategic communication," Journal of Economic Theory, Elsevier, vol. 211(C).

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