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Dynamic information design

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  • Deepanshu Vasal

Abstract

We consider the problem of dynamic information design with one sender and one receiver where the sender observers a private state of the system and takes an action to send a signal based on its observation to a receiver. Based on this signal, the receiver takes an action that determines rewards for both the sender and the receiver and controls the state of the system. In this technical note, we show that this problem can be considered as a problem of dynamic game of asymmetric information and its perfect Bayesian equilibrium (PBE) and Stackelberg equilibrium (SE) can be analyzed using the algorithms presented in [1], [2] by the same author (among others). We then extend this model when there is one sender and multiple receivers and provide algorithms to compute a class of equilibria of this game.

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  • Deepanshu Vasal, 2020. "Dynamic information design," Papers 2005.07267, arXiv.org.
    • Handle: RePEc:arx:papers:2005.07267
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    References listed on IDEAS

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    1. Gentzkow, Matthew & Kamenica, Emir, 2017. "Bayesian persuasion with multiple senders and rich signal spaces," Games and Economic Behavior, Elsevier, vol. 104(C), pages 411-429.
    2. Emir Kamenica, 2019. "Bayesian Persuasion and Information Design," Annual Review of Economics, Annual Reviews, vol. 11(1), pages 249-272, August.
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    4. Li, Fei & Norman, Peter, 2018. "On Bayesian persuasion with multiple senders," Economics Letters, Elsevier, vol. 170(C), pages 66-70.
    5. James Best & Daniel Quigley, 2016. "Persuasion for the Long-Run," Economics Papers 2016-W12, Economics Group, Nuffield College, University of Oxford.
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    8. Johannes Hörner & Andrzej Skrzypacz, 2016. "Selling Information," Journal of Political Economy, University of Chicago Press, vol. 124(6), pages 1515-1562.
    9. Deepanshu Vasal, 2020. "Sequential decomposition of stochastic Stackelberg games," Papers 2005.01997, arXiv.org, revised Sep 2022.
    10. Hedlund, Jonas, 2015. "Persuasion with communication costs," Games and Economic Behavior, Elsevier, vol. 92(C), pages 28-40.
    11. Roger B. Myerson, 1981. "Optimal Auction Design," Mathematics of Operations Research, INFORMS, vol. 6(1), pages 58-73, February.
    12. Pak Hung Au, 2015. "Dynamic information disclosure," RAND Journal of Economics, RAND Corporation, vol. 46(4), pages 791-823, October.
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    14. Honryo, Takakazu, 2018. "Dynamic persuasion," Journal of Economic Theory, Elsevier, vol. 178(C), pages 36-58.
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