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.:
- Jeffrey C. Ely & Juuso Välimäki, 2003.
The Quarterly Journal of Economics,
MIT Press, vol. 118(3), pages 785-814, August.
- Marco Battaglini, 2000.
"Multiple Referrals and Multidimensional Cheap Talk,"
Econometric Society World Congress 2000 Contributed Papers
1557, Econometric Society.
- Marco Battaglini, 2002. "Multiple Referrals and Multidimensional Cheap Talk," Econometrica, Econometric Society, vol. 70(4), pages 1379-1401, July.
- Marco Battaglini, 1999. "Multiple Referrals and Multidimensional Cheap Talk," Discussion Papers 1295, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- David Kreps & Robert Wilson, 1999.
"Reputation and Imperfect Information,"
Levine's Working Paper Archive
238, David K. Levine.
- Vijay Krishna & John Morgan, 1999.
"A Model of Expertise,"
154, Princeton University, Woodrow Wilson School of Public and International Affairs, Discussion Papers in Economics..
- 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.
- Stephen Morris, 1999.
Cowles Foundation Discussion Papers
1242, Cowles Foundation for Research in Economics, Yale University.
- Paul Milgrom & John Roberts, 1997.
"Predation, reputation , and entry deterrence,"
Levine's Working Paper Archive
1460, David K. Levine.
- Sobel, Joel, 1985. "A Theory of Credibility," Review of Economic Studies, Wiley Blackwell, vol. 52(4), pages 557-73, October.
- 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 you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.