Standard game-theoretic solution concepts do not guarantee meaningful communication in cheap-talk games. In this paper, we define a solution concept which guarantees communication for a large class of games by designing a behavior protocol which the receiver uses to judge messages sent by the sender on acceptability. For that, we will make use of the Nash equilibrium concept for which truth-telling is a consequence. Uniqueness is nevertheless not a consequence, but after reasonable selection it is. Further, we will come to a method to compute all equilibria very easily.
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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number
46.
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Find related papers by JEL classification: C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
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