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Rational and boundedly rational behavior in sender-receiver games

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  • Massimiliano Landi

    ()
    (School of Economics and Social Sciences, Singapore Management University)

  • Domenico Colucci

    (University of Florence)

Abstract

We consider a signalling game in which a population of receivers decide on the outcome by majority rule, sender and receivers have conflicting interests, and there is uncertainty about both players’ types. We model players rationality along the lines of recent findings in behavioral game theory. We characterize the structure of the equilibria in the reduced game so obtained. We find that all pure strategy equilibria are consistent with successful attempts to mislead the receivers, and relate them to the message bin Laden sent on the eve of the 2004 US Presidential elections. The same result holds if we allow for some uncertainty about the sign of the correlation between the sender’s and the receivers’ payoffs.

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Bibliographic Info

Paper provided by Singapore Management University, School of Economics in its series Working Papers with number 14-2006.

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Length: 26 pages
Date of creation: Oct 2005
Date of revision: May 2006
Publication status: Published in SMU Economics and Statistics Working Paper Series
Handle: RePEc:siu:wpaper:14-2006

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  1. Miguel Costa-Gomes & Vincent P. Crawford & Bruno Broseta, . "Cognition and Behavior in Normal-Form Games:An Experimental Study," Discussion Papers 00/45, Department of Economics, University of York.
  2. Mark Walker & John Wooders, 2001. "Minimax Play at Wimbledon," American Economic Review, American Economic Association, vol. 91(5), pages 1521-1538, December.
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  5. Farrell, J. & Gibbons, R., 1989. "Cheap Talk With Two Audiences," Working papers 518, Massachusetts Institute of Technology (MIT), Department of Economics.
  6. repec:fth:stanho:e-89-7 is not listed on IDEAS
  7. Benabou, R. & Laroque, G., 1988. "Using Privileged Information To Manipulate Markets: Insiders, Gurus And Credibility," Papers 19, Princeton, Woodrow Wilson School - Discussion Paper.
  8. Ignacio Palacios-Huerta, 2001. "Professionals Play Minimax," Working Papers 2001-17, Brown University, Department of Economics.
  9. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-51, November.
  10. Sobel, Joel, 1985. "A Theory of Credibility," Review of Economic Studies, Wiley Blackwell, vol. 52(4), pages 557-73, October.
  11. Colin F. Camerer & Teck-Hua Ho & Juin-Kuan Chong, 2004. "A Cognitive Hierarchy Model of Games," The Quarterly Journal of Economics, MIT Press, vol. 119(3), pages 861-898, August.
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Cited by:
  1. Mehmet Y. Gurdal & Ayca Ozdogan & Ismail Saglam, 2011. "Truth-Telling and Trust in Sender-Receiver Games with Intervention," Working Papers 1106, TOBB University of Economics and Technology, Department of Economics.

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