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Optimal Use of Communication Resources

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  • Olivier Gossner
  • Penelope Hernandez
  • Abraham Neyman

Abstract

We study a repeated game with asymmetric information about a dynamic state of nature. In the course of the game, the better informed player can communicate some or all of his information with the other. Our model covers costly and/or bounded communication. We characterize the set of equilibrium payoffs, and contrast these with the communication equilibrium payoffs, which by definition entail no communication costs.

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Bibliographic Info

Paper provided by The Center for the Study of Rationality, Hebrew University, Jerusalem in its series Discussion Paper Series with number dp377.

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Length: 38 pages
Date of creation: Dec 2004
Date of revision:
Handle: RePEc:huj:dispap:dp377

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  1. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-58, March.
  2. Forges, Francoise, 1990. "Universal Mechanisms," Econometrica, Econometric Society, vol. 58(6), pages 1341-64, November.
  3. Forges, F., 1984. "An approach to communication equilibria," CORE Discussion Papers 1984035, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Radner, Roy, 1993. "The Organization of Decentralized Information Processing," Econometrica, Econometric Society, vol. 61(5), pages 1109-46, September.
  5. V.D. Divekar, 1972. "Communication," The Indian Economic & Social History Review, , vol. 9(2), pages 235-238, June.
  6. Gerardi, Dino, 2004. "Unmediated communication in games with complete and incomplete information," Journal of Economic Theory, Elsevier, vol. 114(1), pages 104-131, January.
  7. Arrow, Kenneth J, 1985. "Informational Structure of the Firm," American Economic Review, American Economic Association, vol. 75(2), pages 303-07, May.
  8. Ben-Porath, Elchanan, 2003. "Cheap talk in games with incomplete information," Journal of Economic Theory, Elsevier, vol. 108(1), pages 45-71, January.
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Cited by:
  1. Dietrichson, Jens & Jochem, Torsten, 2014. "Organizational coordination and costly communication with boundedly rational agents," Comparative Institutional Analysis Working Paper Series 2014:1, Comparative Institutional Analysis, Lund University School of Economics and Management.
  2. Abraham Neyman, 2008. "Learning Effectiveness and Memory Size," Levine's Working Paper Archive 122247000000002427, David K. Levine.
  3. Antonio Cabrales & Olivier Gossner & Roberto Serrano, 2013. "Entropy and the Value of Information for Investors," American Economic Review, American Economic Association, vol. 103(1), pages 360-77, February.
  4. Abraham Neyman & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy, and Nonstationary Bounded Recall," Levine's Bibliography 122247000000000920, UCLA Department of Economics.
  5. Aurora García-Gallego & Penélope Hernández-Rojas & Amalia Rodrigo-González, 2013. "Endogenous vs. Exogenous Transmission of Information: An Experiment," Working Papers 2013/06, Economics Department, Universitat Jaume I, Castellón (Spain).
  6. repec:hal:wpaper:halshs-00648884 is not listed on IDEAS
  7. Gilad Bavly & Abraham Neyman, 2014. "Online Concealed Correlation and Bounded Rationality," Discussion Paper Series dp659, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  8. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.
  9. Olivier Gossner & Rida Laraki & Tristan Tomala, 2004. "Maxmin computation and optimal correlation in repeated games with signals," Working Papers hal-00242940, HAL.
  10. Hertel, Johanna & Smith, John, 2011. "Not so cheap talk: Costly and discrete communication," MPRA Paper 29148, University Library of Munich, Germany.
  11. Hernández, Penélope & Urbano, Amparo, 2008. "Codification schemes and finite automata," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 395-409, November.
  12. Abraham Neyman Null & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy and Nonstationary Bounded Recall," Departmental Working Papers 200514, Rutgers University, Department of Economics.

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