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Information Transmission and Preference Similarity

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  • Blume, A.

    (Tilburg University, Center for Economic Research)

Abstract

This paper examines sets of Nash equilibria in sender-receiver games that are stable against replacement by alternative Nash equilibria. Such stable sets exist. In {\em partial common interest games} they contain only informative equilibria. The stability requirement sharpens currently available predictions for such games by (1) weakening the partial common interest condition, (2) ruling out strictly dominated actions, (3) reflecting the informativeness of the sender's strategy in the receiver's reply, and (4) by ruling out pooling actions. This approach is then used as a step toward unifying the study of partial common interest games and of Crawford and Sobel's parametric model of preference similarity.

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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 1997-66.

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Date of creation: 1997
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Handle: RePEc:dgr:kubcen:199766

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  1. Myerson, Roger B., 1989. "Credible negotiation statements and coherent plans," Journal of Economic Theory, Elsevier, vol. 48(1), pages 264-303, June.
  2. Swinkels, J., 1991. "Evolutionary Stability with Equilibrium Entrants," Papers 9, Stanford - Institute for Thoretical Economics.
  3. Blume, A. & Kim, Y.G. & Sobel, J., 1993. "Evolutionary Stability in Games of Communication," Working Papers 93-07, University of Iowa, Department of Economics.
  4. Matsui, Akihiko, 1992. "Best response dynamics and socially stable strategies," Journal of Economic Theory, Elsevier, vol. 57(2), pages 343-362, August.
  5. Blume, A., 1994. "Evolution of the Meaning of Messages in Sender-Receiver Games : An Experiment," Discussion Paper 1994-91, Tilburg University, Center for Economic Research.
  6. Georg Nöldeke & Larry Samuelson, 1992. "The Evolutionary Foundations of Backward and Forward Induction," Discussion Paper Serie B 216, University of Bonn, Germany.
  7. Rabin, Matthew, 1990. "Communication between rational agents," Journal of Economic Theory, Elsevier, vol. 51(1), pages 144-170, June.
  8. David Austen-Smith & Jeffrey S. Banks, 1998. "Cheap Talk and Burned Money," Discussion Papers 1245, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  9. KOHLBERG, Elon & MERTENS, Jean-François, . "On the strategic stability of equilibria," CORE Discussion Papers RP -716, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Rabin, Matthew & Sobel, Joel, 1993. "Deviations, Dynamics and Equilibrium Refinements," Department of Economics, Working Paper Series qt40s882v6, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  11. J. Farrell, 2010. "Meaning and Credibility in Cheap Talk Games," Levine's Working Paper Archive 533, David K. Levine.
  12. I. Gilboa & A. Matsui, 2010. "Social Stability and Equilibrium," Levine's Working Paper Archive 534, David K. Levine.
  13. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-51, November.
  14. Blume, A., 1993. "Neighborhood Stability in Sender-Receiver Games," Working Papers 93-15, University of Iowa, Department of Economics.
  15. Stein, Jeremy C, 1989. "Cheap Talk and the Fed: A Theory of Imprecise Policy Announcements," American Economic Review, American Economic Association, vol. 79(1), pages 32-42, March.
  16. Steven A. Matthews & M. Okuno-Fujiwara & Andrew Postlewaite, 1990. "Refining Cheap-Talk Equilibria," Discussion Papers 892R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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