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Communication and binary decisions : is it better to communicate ?

Listed author(s):
  • Frédéric Loss

    (Department of Economics, Ecole Polytechnique - Polytechnique - X - CNRS - Centre National de la Recherche Scientifique, CNAM Paris - Conservatoire National des Arts et Métiers - Paris - CNAM - Conservatoire National des Arts et Métiers [CNAM])

  • Estelle Malavolti

    ()

    (TSE - Toulouse School of Economics - Toulouse School of Economics, LEEA - ENAC - Laboratoire d'Economie et d'Econométrie de l'Aérien - ENAC - Ecole Nationale de l'Aviation Civile)

  • Thibaud Vergé

    (Competition Authority - Competition Authority)

We study information transmission between an informed expert and an uninformed decision-maker when the decision is binary and the expert does not have a systematic bias. Whenever an equilibrium exists where the decision is delegated to the expert, it is ex ante Pareto-dominant. Adding a round of multilateral communication does not improve information transmission. The decision-maker can, however, improve information transmission by communicating sequentially with two experts. However, introducing multiple rounds of communication (i.e., allowing for rebuttal) does not help.

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Paper provided by HAL in its series Post-Print with number hal-00874852.

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Date of creation: 01 Sep 2013
Publication status: Published in Journal of Institutional and Theoretical Economics, Mohr Siebeck, 2013, 169 (3), pp 451-467. <10.1628/093245613X13621221166330>
Handle: RePEc:hal:journl:hal-00874852
DOI: 10.1628/093245613X13621221166330
Note: View the original document on HAL open archive server: https://hal-enac.archives-ouvertes.fr/hal-00874852
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

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  1. Marco Battaglini, 2002. "Multiple Referrals and Multidimensional Cheap Talk," Econometrica, Econometric Society, vol. 70(4), pages 1379-1401, July.
  2. Robert J. Aumann, 1995. "Repeated Games with Incomplete Information," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011476.
  3. Li, Ming & Madarász, Kristóf, 2008. "When mandatory disclosure hurts: Expert advice and conflicting interests," Journal of Economic Theory, Elsevier, vol. 139(1), pages 47-74, March.
  4. Frédéric Koessler & Françoise Forges, 2008. "Multistage Communication With And Without Verifiable Types," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 145-164.
  5. repec:dau:papers:123456789/1121 is not listed on IDEAS
  6. Rubinstein, Ariel & Glazer, Jacob, 2006. "A study in the pragmatics of persuasion: a game theoretical approach," Theoretical Economics, Econometric Society, vol. 1(4), pages 395-410, December.
  7. Robert J. Aumann & Sergiu Hart, 2003. "Long Cheap Talk," Econometrica, Econometric Society, vol. 71(6), pages 1619-1660, November.
    • Robert J. Aumann & Sergiu Hart, 2002. "Long Cheap Talk," Discussion Paper Series dp284, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem, revised Nov 2002.
  8. Gromb, Denis & Martimort, David, 2007. "Collusion and the organization of delegated expertise," Journal of Economic Theory, Elsevier, vol. 137(1), pages 271-299, November.
  9. Gilligan, Thomas W & Krehbiel, Keith, 1987. "Collective Decisionmaking and Standing Committees: An Informational Rationale for Restrictive Amendment Procedures," Journal of Law, Economics and Organization, Oxford University Press, vol. 3(2), pages 287-335, Fall.
  10. Chirantan Ganguly & Indrajit Ray, 2009. "Simple Mediation in a Cheap-Talk Game," Discussion Papers 05-08r, Department of Economics, University of Birmingham.
  11. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-1451, November.
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