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The strategy of manipulating joint decision-making

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  • Kim, Jin Yeub
  • Kwon, Heung Jin

Abstract

We study a model of strategic persuasion based on the theory of cheap talk, in which a better-informed agent manipulates two decision-makers’ joint decision on alternative proposals. With the heterogeneity of two decision-makers’ value of the outside option, only the decision-maker with the better outside option is critical in determining whether communication is truthful, overselling, or ineffective.

Suggested Citation

  • Kim, Jin Yeub & Kwon, Heung Jin, 2014. "The strategy of manipulating joint decision-making," Economics Letters, Elsevier, vol. 123(2), pages 127-130.
  • Handle: RePEc:eee:ecolet:v:123:y:2014:i:2:p:127-130
    DOI: 10.1016/j.econlet.2014.01.034
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    References listed on IDEAS

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    1. Archishman Chakraborty & Rick Harbaugh, 2010. "Persuasion by Cheap Talk," American Economic Review, American Economic Association, vol. 100(5), pages 2361-2382, December.
      • Archishman Chakraborty & Rick Harbaugh, 2006. "Persuasion by Cheap Talk," Working Papers 2006-10, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy, revised Oct 2009.
    2. Farrell, Joseph & Gibbons, Robert, 1989. "Cheap Talk with Two Audiences," American Economic Review, American Economic Association, vol. 79(5), pages 1214-1223, December.
    3. Bernard Caillaud & Jean Tirole, 2007. "Consensus Building: How to Persuade a Group," American Economic Review, American Economic Association, vol. 97(5), pages 1877-1900, December.
    4. Yeon-Koo Che & Wouter Dessein & Navin Kartik, 2013. "Pandering to Persuade," American Economic Review, American Economic Association, vol. 103(1), pages 47-79, February.
    5. repec:hoo:wpaper:e-89-7 is not listed on IDEAS
    6. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-1451, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Collective decision-making; Communication; Information;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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