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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. Gerardi, Dino, 2004. "Unmediated communication in games with complete and incomplete information," Journal of Economic Theory, Elsevier, vol. 114(1), pages 104-131, January.
  2. FORGES, Françoise, . "Universal mechanisms," CORE Discussion Papers RP -914, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-58, March.
  4. F. Forges, 2010. "An Approach to Communication Equilibrium," Levine's Working Paper Archive 516, David K. Levine.
  5. Arrow, Kenneth J, 1985. "Informational Structure of the Firm," American Economic Review, American Economic Association, vol. 75(2), pages 303-07, May.
  6. Radner, Roy, 1993. "The Organization of Decentralized Information Processing," Econometrica, Econometric Society, vol. 61(5), pages 1109-46, September.
  7. V.D. Divekar, 1972. "Communication," The Indian Economic & Social History Review, , vol. 9(2), pages 235-238, June.
  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. Abraham Neyman & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy, and Nonstationary Bounded Recall," Levine's Bibliography 122247000000000920, UCLA Department of Economics.
  2. 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.
  3. Antonio Cabrales & Olivier Gossner & Roberto Serrano, 2010. "Entropy and the value of information for investors," Working Papers 2010-23, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  4. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.
  5. Hernández, Penélope & Urbano, Amparo, 2008. "Codification schemes and finite automata," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 395-409, November.
  6. Abraham Neyman, 2008. "Learning Effectiveness and Memory Size," Discussion Paper Series dp476, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  7. Johanna Hertel & John Smith, 2013. "Not so cheap talk: costly and discrete communication," Theory and Decision, Springer, vol. 75(2), pages 267-291, August.
  8. Abraham Neyman Null & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy and Nonstationary Bounded Recall," Departmental Working Papers 200514, Rutgers University, Department of Economics.
  9. Olivier Gossner & Rida Laraki & Tristan Tomala, 2004. "Maxmin computation and optimal correlation in repeated games with signals," Working Papers hal-00242940, HAL.
  10. 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.
  11. repec:hal:wpaper:halshs-00648884 is not listed on IDEAS
  12. 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).

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