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Signaling games with endogenous types

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  • In-Koo Cho

    (Emory University
    Hanyang University)

Abstract

This paper examines a signaling game with endogenous types in which the sender can influence the property of his private information. We propose an equilibrium selection criterion, called criterion D3, which builds on criterion D1 from signaling games without endogenous types (Cho and Kreps 1987 and Cho and Sobel 1990). We examine the selected equilibrium properties and compare them to the equilibria selected under the existing selection rules.

Suggested Citation

  • In-Koo Cho, 2023. "Signaling games with endogenous types," International Journal of Game Theory, Springer;Game Theory Society, vol. 52(1), pages 157-174, March.
    • Handle: RePEc:spr:jogath:v:52:y:2023:i:1:d:10.1007_s00182-022-00813-4
    DOI: 10.1007/s00182-022-00813-4
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    References listed on IDEAS

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    1. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-894, July.
    2. Simona Grassi & Ching-to Albert Ma, 2016. "Information acquisition, referral, and organization," RAND Journal of Economics, RAND Corporation, vol. 47(4), pages 935-960, November.
    3. In-Koo Cho & David M. Kreps, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(2), pages 179-221.
    4. Cho, In-Koo & Sobel, Joel, 1990. "Strategic stability and uniqueness in signaling games," Journal of Economic Theory, Elsevier, vol. 50(2), pages 381-413, April.
    5. Kohlberg, Elon & Mertens, Jean-Francois, 1986. "On the Strategic Stability of Equilibria," Econometrica, Econometric Society, vol. 54(5), pages 1003-1037, September.
    6. Rubinstein, Ariel, 1985. "A Bargaining Model with Incomplete Information about Time Preferences," Econometrica, Econometric Society, vol. 53(5), pages 1151-1172, September.
    7. Grossman, Sanford J. & Perry, Motty, 1986. "Perfect sequential equilibrium," Journal of Economic Theory, Elsevier, vol. 39(1), pages 97-119, June.
    8. Mike Burkart & Samuel Lee, 2015. "Signalling to Dispersed Shareholders and Corporate Control," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(3), pages 922-962.
    9. Younghwan In & Julian Wright, 2018. "Signaling Private Choices," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(1), pages 558-580.
    10. Banks, Jeffrey S & Sobel, Joel, 1987. "Equilibrium Selection in Signaling Games," Econometrica, Econometric Society, vol. 55(3), pages 647-661, May.
    11. Jesper Rüdiger & Adrien Vigier, 2020. "Who Acquires Information in Dealer Markets?," American Economic Review, American Economic Association, vol. 110(4), pages 1145-1176, April.
    12. Mehmet Ekmekci & Nenad Kos, 2020. "Signaling Covertly Acquired Information," Working Papers 658, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    13. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(3), pages 355-374.
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