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Simple Mediation in a Cheap-Talk Game

  • Chirantan Ganguly
  • Indrajit Ray

In the Crawford-Sobel (uniform, quadratic utility) cheap-talk model, we consider a simple mediation scheme (a communication device) in which the informed agent reports one of the N possible elements of a partition to the mediator and then the mediator suggests one of the N actions to the uninformed decision-maker according to the probability distribution of the device. We show that no such simple mediated equilibrium can improve unpon the unmediated N-partition Crawford-Sobel equilibrium when the preference divergence parameter (bias is small).

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File URL: ftp://ftp.bham.ac.uk/pub/RePEc/pdf/05-08RRR.pdf
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Paper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number 05-08rrr.

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Length: 19 pages
Date of creation: Apr 2012
Date of revision:
Handle: RePEc:bir:birmec:05-08rrr
Contact details of provider: Postal: Edgbaston, Birmingham, B15 2TT
Web page: http://www.economics.bham.ac.uk

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  1. R. Aumann, 2010. "Subjectivity and Correlation in Randomized Strategies," Levine's Working Paper Archive 389, David K. Levine.
  2. Françoise Forges, 2006. "Correlated Equilibrium in Games with Incomplete Information Revisited," Theory and Decision, Springer, vol. 61(4), pages 329-344, December.
  3. Goltsman, Maria & Hörner, Johannes & Pavlov, Gregory & Squintani, Francesco, 2009. "Mediation, arbitration and negotiation," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1397-1420, July.
  4. Aumann, Robert J, 1987. "Correlated Equilibrium as an Expression of Bayesian Rationality," Econometrica, Econometric Society, vol. 55(1), pages 1-18, January.
  5. V. Crawford & J. Sobel, 2010. "Strategic Information Transmission," Levine's Working Paper Archive 544, David K. Levine.
  6. Forges, Françoise & Vida, Péter, 2013. "Implementation of Communication Equilibria by Correlated Cheap Talk : the Two-Player Case," Economics Papers from University Paris Dauphine 123456789/8159, Paris Dauphine University.
  7. FORGES, Françoise, . "Five legitimate definitions of correlated equilibrium in games with incomplete informations," CORE Discussion Papers RP -1071, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. Board, Oliver J. & Blume, Andreas & Kawamura, Kohei, 2007. "Noisy talk," Theoretical Economics, Econometric Society, vol. 2(4), December.
  9. F. Forges, 2010. "An Approach to Communication Equilibrium," Levine's Working Paper Archive 516, David K. Levine.
  10. Ivanov, Maxim, 2010. "Communication via a strategic mediator," Journal of Economic Theory, Elsevier, vol. 145(2), pages 869-884, March.
  11. Wouter Dessein, 2002. "Authority and Communication in Organizations," Review of Economic Studies, Oxford University Press, vol. 69(4), pages 811-838.
  12. Kovác, Eugen & Mylovanov, Tymofiy, 2009. "Stochastic mechanisms in settings without monetary transfers: The regular case," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1373-1395, July.
  13. Ying Chen & Navin Kartik & Joel Sobel, 2008. "Selecting Cheap-Talk Equilibria," Econometrica, Econometric Society, vol. 76(1), pages 117-136, 01.
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