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Multi-sender cheap talk with almost common information

Author

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  • Elshan Garashli

    (University of Graz, Austria)

Abstract

Multiple experts often observe information that is nearly, but not exactly, common. We study a multi-sender cheap talk model with an ε-mixture prior that varies correlation while holding marginals fixed. Correlation determines which message profiles are governed by Bayes' rule. Full revelation can be supported at perfect correlation, but any independent component rules it out. This is not a collapse of communication. Informative equilibria still exist with almost common information and can be partitional or nonpartitional. With similar information, partitional equilibria survive only on a strict subset of their perfect-correlation bias region, while nonpartitional equilibria remain feasible throughout their perfect-correlation bias region.

Suggested Citation

  • Elshan Garashli, 2026. "Multi-sender cheap talk with almost common information," Graz Economics Papers 2026-22, University of Graz, Department of Economics.
  • Handle: RePEc:grz:wpaper:2026-22
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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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