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Optimal Use Of Communication Resources

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Author Info

  • Olivier Gossner

    ()
    (Paris-Jourdan Sciences Économiques)

  • Abraham Neyman

    (Hebrew University of Jerusalem)

  • Penélope Hernández

    (Universidad de Alicante)

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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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2005-06.pdf
File Function: Fisrt version / Primera version, 2005
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2005-06.

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Length: 38 pages
Date of creation: Feb 2005
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:2005-06

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Keywords: Repeated games; communication; entropy;

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References

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  1. Forges, Francoise M, 1986. "An Approach to Communication Equilibria," Econometrica, Econometric Society, vol. 54(6), pages 1375-85, November.
  2. FORGES, Françoise, . "Universal mechanisms," CORE Discussion Papers RP -914, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Radner, Roy, 1993. "The Organization of Decentralized Information Processing," Econometrica, Econometric Society, vol. 61(5), pages 1109-46, September.
  4. Arrow, Kenneth J, 1985. "Informational Structure of the Firm," American Economic Review, American Economic Association, vol. 75(2), pages 303-07, May.
  5. Gerardi, Dino, 2004. "Unmediated communication in games with complete and incomplete information," Journal of Economic Theory, Elsevier, vol. 114(1), pages 104-131, January.
  6. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-58, March.
  7. Ben-Porath, Elchanan, 2003. "Cheap talk in games with incomplete information," Journal of Economic Theory, Elsevier, vol. 108(1), pages 45-71, January.
  8. V.D. Divekar, 1972. "Communication," The Indian Economic & Social History Review, , vol. 9(2), pages 235-238, June.
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Citations

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Cited by:
  1. 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.
  2. 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.
  3. Abraham Neyman, 2008. "Learning Effectiveness and Memory Size," Levine's Working Paper Archive 122247000000002427, David K. Levine.
  4. Olivier Gossner & Rida Laraki & Tristan Tomala, 2004. "Maxmin computation and optimal correlation in repeated games with signals," Working Papers hal-00242940, HAL.
  5. Hertel, Johanna & Smith, John, 2010. "Not so cheap talk: Costly and discrete communication," MPRA Paper 23560, University Library of Munich, Germany.
  6. 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).
  7. Dietrichson, Jens & Jochem, Torsten, 2014. "Organizational Coordination and Costly Communication with Boundedly Rational Agents," Working Papers 2014:2, Lund University, Department of Economics.
  8. Abraham Neyman & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy, and Nonstationary Bounded Recall," Levine's Bibliography 122247000000000920, UCLA Department of Economics.
  9. repec:hal:wpaper:halshs-00648884 is not listed on IDEAS
  10. Hernández, Penélope & Urbano, Amparo, 2008. "Codification schemes and finite automata," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 395-409, November.
  11. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, 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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