Multistage communication with and without verifiable types
We survey selected results on strategic information transmission. We distinguish between "cheap talk" and "persuasion". In the latter model, the informed player's message set depends on his type. As a benchmark, we first assume that the informed player sends a single message to the decision maker. We state characterization results for the sets of equilibrium payoffs, with and without verifiable types. We then show that multistage, bilateral communication enables the players to achieve new equilibrium outcomes, even if types are verifiable. We also propose complete characterizations of the equilibrium payoffs that are achievable with a bounded number of communication rounds.
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|Date of creation:||Jun 2008|
|Date of revision:|
|Publication status:||Published in International Game Theory Review, 2008, Vol. 10, no. 2. pp. 145-164.Length: 19 pages|
|Contact details of provider:|| Web page: http://www.dauphine.fr/en/welcome.html|
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- Watson, Joel, 1996. "Information Transmission When the Informed Party Is Confused," Games and Economic Behavior, Elsevier, vol. 12(1), pages 143-161, January.
- Blume, A., 1991.
"Equilibrium Refinement in Sender-Receiver Games,"
91-28, University of Iowa, Department of Economics.
- Daniel J. Seidmann & Eyal Winter, 1997. "Strategic Information Transmission with Verifiable Messages," Econometrica, Econometric Society, vol. 65(1), pages 163-170, January.
- Jérôme Renault, 2001.
"3-player repeated games with lack of information on one side,"
International Journal of Game Theory,
Springer, vol. 30(2), pages 221-245.
- Renault, Jérôme, 2001. "3-player repeated games with lack of information on one side," Economics Papers from University Paris Dauphine 123456789/6538, Paris Dauphine University.
- V. Crawford & J. Sobel, 2010.
"Strategic Information Transmission,"
Levine's Working Paper Archive
544, David K. Levine.
- Renault, Jérôme, 2000. "On Two-Player Repeated Games with Lack of Information on One Side and State-Independent Signalling," Economics Papers from University Paris Dauphine 123456789/6109, Paris Dauphine University.
- Robert J. Aumann, 1995. "Repeated Games with Incomplete Information," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011476, June.
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