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Certifiable Pre-Play Communication: Full Disclosure

  • Jeanne Hagenbach

    (Department of Economics, Ecole Polytechnique - CNRS : UMR7176 - Polytechnique - X)

  • Frédéric Koessler

    (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris, PSE - Paris-Jourdan Sciences Economiques - CNRS : UMR8545 - École des Hautes Études en Sciences Sociales (EHESS) - École des Ponts ParisTech (ENPC) - École normale supérieure [ENS] - Paris - Institut national de la recherche agronomique (INRA))

  • Eduardo Perez-Richet

    (Department of Economics, Ecole Polytechnique - CNRS : UMR7176 - Polytechnique - X)

This article asks when communication with certifiable information leads to complete information sharing. We consider Bayesian games augmented by a pre-play communication phase in which announcements are made publicly. We characterize the augmented games in which there exists a full disclosure sequential equilibrium with extremal beliefs (i.e., any deviation is attributed to a single type of the deviator). This characterization enables us to provide different sets of sufficient conditions for full information disclosure that encompass and extend all known results in the literature, and are easily applicable. We use these conditions to obtain new insights in senders-receiver games, games with strategic complementarities, and voting with deliberation.

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Paper provided by HAL in its series PSE Working Papers with number hal-00753473.

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Date of creation: 19 Nov 2012
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Handle: RePEc:hal:psewpa:hal-00753473
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  1. David P. Myatt & Chris Wallace, 2009. "Endogenous Information Acquisition in Coordination Games," Economics Series Working Papers 445, University of Oxford, Department of Economics.
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  18. Koessler, Frédéric & Renault, Régis, 2012. "When Does a Firm Disclose Product Information?," Economics Papers from University Paris Dauphine 123456789/12406, Paris Dauphine University.
  19. Athey, Susan, 2002. "Monotone Comparative Statics Under Uncertainty," Scholarly Articles 3372263, Harvard University Department of Economics.
  20. Grossman, Sanford J, 1981. "The Informational Role of Warranties and Private Disclosure about Product Quality," Journal of Law and Economics, University of Chicago Press, vol. 24(3), pages 461-83, December.
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