Value of public information in sender–receiver games
I find in two classes of sender–receiver games that the receiver’s equilibrium payoff is not increasing in the informativeness of a public signal because the sender may transmit less information when the public signal is more informative.
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References listed on IDEAS
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- Crawford, Vincent P & Sobel, Joel, 1982.
"Strategic Information Transmission,"
Econometric Society, vol. 50(6), pages 1431-51, November.
- repec:dpr:wpaper:0746 is not listed on IDEAS
- Olszewski, Wojciech, 2004. "Informal communication," Journal of Economic Theory, Elsevier, vol. 117(2), pages 180-200, August.
- Green, Jerry R. & Stokey, Nancy L., 2007.
"A two-person game of information transmission,"
Journal of Economic Theory,
Elsevier, vol. 135(1), pages 90-104, July.
- Watson, Joel, 1996. "Information Transmission When the Informed Party Is Confused," Games and Economic Behavior, Elsevier, vol. 12(1), pages 143-161, January.
- Seidmann, Daniel J., 1990. "Effective cheap talk with conflicting interests," Journal of Economic Theory, Elsevier, vol. 50(2), pages 445-458, April.
- Stephen Morris & Hyun Song Shin, 2002. "Social Value of Public Information," American Economic Review, American Economic Association, vol. 92(5), pages 1521-1534, December.
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