Modes of Communication
AbstractThe paper develops a theory of costly communication in which the sender's and receiver's motivations and abilities endogenously determine the communication mode and the transfer of knowledge. Communication is modeled as a problem of moral hazard in teams, in which the sender and receiver select persuasion and message elaboration efforts. The model is shown to provide a rich set of insights concerning (i) the impact of incentive alignment on communication strategies, (ii) the relative influence and the complementarity/substitutability between issue-relevant communication and cues (information that relates to the credibility of the sender rather than to the issue at stake), and (iii) the path dependency of communication.
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Bibliographic InfoPaper provided by Institut d'Économie Industrielle (IDEI), Toulouse in its series IDEI Working Papers with number 323.
Date of creation: Dec 2004
Date of revision:
Publication status: Published in Journal of Political Economy, vol.�113, n°6, décembre 2005, p.�1217-1238.
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- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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