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Lobbying with two audiences: Public vs private certification

  • Koessler, Frédéric

This paper compares public and private information certification in a simple class of communication games with one sender and two receivers. It is shown that, contrary to the cheap talk setting of [Farrell, J., Gibbons, R., 1989. Cheap talk with two audiences. American Economic Review 79, 1214-1223], allowing certifiable statements excludes mutual discipline (i.e., full information revelation in public but not in private) but allows for mutual subversion (i.e., full information revelation in private but not in public). In the latter case, the sender is always better off with public communication, while in other situations he may prefer either private or public communication. Compared to the previous models of strategic information revelation the paper also emphasizes the role of the "common belief " consistency condition of the strong version of sequential equilibrium.

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File URL: http://www.sciencedirect.com/science/article/pii/S0165-4896(07)00108-4
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Article provided by Elsevier in its journal Mathematical Social Sciences.

Volume (Year): 55 (2008)
Issue (Month): 3 (May)
Pages: 305-314

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Handle: RePEc:eee:matsoc:v:55:y:2008:i:3:p:305-314
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505565

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  1. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-94, July.
  2. Masahiro Okuno-Fujiwara & Andrew Postlewaite & Kotaro Suzumura, 1990. "Strategic Information Revelation," Review of Economic Studies, Oxford University Press, vol. 57(1), pages 25-47.
  3. Robert Gertner & Robert Gibbons & David Scharfstein, 1987. "Simultaneous Signaling to the Capital and Product Markets," Working papers 449, Massachusetts Institute of Technology (MIT), Department of Economics.
  4. F. Forges & Frederic Koessler, 2003. "Communication Equilibria with Partially Verifiable Types," THEMA Working Papers 2003-10, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  5. Daniel J. Seidmann & Eyal Winter, 1997. "Strategic Information Transmission with Verifiable Messages," Econometrica, Econometric Society, vol. 65(1), pages 163-170, January.
  6. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, December.
  7. Levy, Gilat & Razin, Ronny, 2003. "It Takes Two: An Explanation of the Democratic Peace," CEPR Discussion Papers 3947, C.E.P.R. Discussion Papers.
  8. Verrecchia, Robert E., 2001. "Essays on disclosure," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 97-180, December.
  9. Giovannoni, Francesco & Seidmann, Daniel J., 2007. "Secrecy, two-sided bias and the value of evidence," Games and Economic Behavior, Elsevier, vol. 59(2), pages 296-315, May.
  10. repec:hoo:wpaper:e-89-7 is not listed on IDEAS
  11. Farrell, Joseph & Gibbons, Robert, 1989. "Cheap Talk with Two Audiences," American Economic Review, American Economic Association, vol. 79(5), pages 1214-23, December.
  12. Jerry R. Green & Jean-Jacques Laffont, 1986. "Partially Verifiable Information and Mechanism Design," Review of Economic Studies, Oxford University Press, vol. 53(3), pages 447-456.
  13. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, December.
  14. Sjaak Hurkens & Karl Schlag, 2003. "Evolutionary insights on the willingness to communicate," International Journal of Game Theory, Springer;Game Theory Society, vol. 31(4), pages 511-526, 09.
  15. repec:dau:papers:123456789/168 is not listed on IDEAS
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