Sequential Cheap Talk from Advisors with Reputation
I examine two-period sequential cheap talk in situations where the decision maker seeks advice from two advisors, each of whom knows the type of the other advisor. By considering the current payoff (which is determined by the message of each advisor) and the future payoff (which is connected with the reputation of each advisor), I examine conditions which guarantee the existence of both good and bad reputation effects. Compared to situations of simultaneous cheap talk, the decision maker loses information more easily if he seeks advice sequentially.
|Date of creation:||Jun 2008|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (+420) 224 005 123
Fax: (+420) 224 005 333
Web page: http://www.cerge-ei.cz
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sobel, Joel, 1985. "A Theory of Credibility," Review of Economic Studies, Wiley Blackwell, vol. 52(4), pages 557-73, October.
- Marco Battaglini, 1999.
"Multiple Referrals and Multidimensional Cheap Talk,"
1295, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Marco Battaglini, 2002. "Multiple Referrals and Multidimensional Cheap Talk," Econometrica, Econometric Society, vol. 70(4), pages 1379-1401, July.
- Marco Battaglini, 2000. "Multiple Referrals and Multidimensional Cheap Talk," Econometric Society World Congress 2000 Contributed Papers 1557, Econometric Society.
- Battaglini Marco, 2004. "Policy Advice with Imperfectly Informed Experts," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 4(1), pages 1-34, April.
- Jeffrey Ely & Jusso Valimaki, 2002.
NajEcon Working Paper Reviews
- Stephen Morris, 2001.
Journal of Political Economy,
University of Chicago Press, vol. 109(2), pages 231-265, April.
- Paul Milgrom & John Roberts, 1980.
"Predation, Reputation, and Entry Deterrence,"
427, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Krishna, V. & Morgan, J., 1999.
"A Model of Expertise,"
206, Princeton, Woodrow Wilson School - Public and International Affairs.
- Kreps, David M. & Wilson, Robert, 1982.
"Reputation and imperfect information,"
Journal of Economic Theory,
Elsevier, vol. 27(2), pages 253-279, August.
- In-Uck Park, 2005. "Cheap-Talk Referrals of Differentiated Experts in Repeated Relationships," RAND Journal of Economics, The RAND Corporation, vol. 36(2), pages 391-411, Summer.
When requesting a correction, please mention this item's handle: RePEc:cer:papers:wp352. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jana Koudelkova)
If references are entirely missing, you can add them using this form.