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Repeated Signaling Games

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Author Info
Ayça Kaya (Department of Economics, University of Iowa)
Abstract

Although many signaling situations are best interpreted as repeated games, prior research often models them as one-shot games. We analyze a class of repeated signaling games in which the informed player's type is persistent and the history of actions are perfectly observable. In this context a large class of possibly complex sequences of signals can be supported as the separating equilibrium actions of the \strong type" of the informed player. We characterize the set of such sequences. We also characterize the sequences of signals in least cost separating equilibria of these games. We show that these sequences in general have a simple structure. Moreover, many of them involve costly signaling after beliefs become degenerate.

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File URL: http://www.econ.ku.dk/CIE/Discussion%20Papers/2005/2005-07.pdf
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Publisher Info
Paper provided by University of Copenhagen. Department of Economics. Centre for Industrial Economics in its series CIE Discussion Papers with number 2005-07.

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Length: 38 pages
Date of creation: Nov 2005
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Handle: RePEc:kud:kuieci:2005-07

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Related research
Keywords: signaling games; dynamic games; repeated games; asymmetric information;

Find related papers by JEL classification:
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    Other versions:
  7. Roger B. Myerson, 1978. "Optimal Auction Design," Discussion Papers 362, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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  12. van Damme,Eric, 1987. "Stable equilibria and forward induction," Discussion Paper Serie A 128, University of Bonn, Germany.
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  13. Kremer, Ilan & Skrzypacz, Andrzej, 2007. "Dynamic signaling and market breakdown," Journal of Economic Theory, Elsevier, vol. 133(1), pages 58-82, March. [Downloadable!] (restricted)
  14. Grossman, Sanford J, 1981. "The Informational Role of Warranties and Private Disclosure about Product Quality," Journal of Law & Economics, University of Chicago Press, vol. 24(3), pages 461-83, December.
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  16. Noldecke,Georg & van Damme,Eric, 1988. "Signalling in a dynamic labor market," Discussion Paper Serie A 148, University of Bonn, Germany.
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  17. Wilson, Robert, 1985. "Multi-dimensional signalling," Economics Letters, Elsevier, vol. 19(1), pages 17-21. [Downloadable!] (restricted)
  18. Bagwell, Kyle & Riordan, Michael H, 1991. "High and Declining Prices Signal Product Quality," American Economic Review, American Economic Association, vol. 81(1), pages 224-39, March. [Downloadable!] (restricted)
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  19. Milgrom, Paul & Roberts, John, 1986. "Price and Advertising Signals of Product Quality," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 796-821, August. [Downloadable!] (restricted)
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  20. Nelson, Philip, 1974. "Advertising as Information," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 729-54, July/Aug.. [Downloadable!] (restricted)
  21. Georg Nöldeke & Eric van Damme, 1990. "Switching Away From Probability One Beliefs," Discussion Paper Serie A 304, University of Bonn, Germany.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Sanghoon Lee, 2007. "The Timing Of Signaling: To Study In High School Or In College?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(3), pages 785-807, 08. [Downloadable!] (restricted)
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