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Long Cheap Talk

Author

Listed:
  • Robert J. Aumann
  • Sergiu Hart

Abstract

With cheap talk, more can be achieved by long conversations than by a single message-even when one side is strictly better informed than the other. ("Cheap talk" means plain conversation-unmediated, nonbinding, and payoff-irrelevant.) This work characterizes the equilibrium payoffs for all two-person games in which one side is better informed than the other and cheap talk is permitted. Copyright The Econometric Society 2003.

Suggested Citation

  • Robert J. Aumann & Sergiu Hart, 2003. "Long Cheap Talk," Econometrica, Econometric Society, vol. 71(6), pages 1619-1660, November.
  • Handle: RePEc:ecm:emetrp:v:71:y:2003:i:6:p:1619-1660
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    Other versions of this item:

    • Robert J. Aumann & Sergiu Hart, 2002. "Long Cheap Talk," Discussion Paper Series dp284, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem, revised Nov 2002.

    References listed on IDEAS

    as
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