IDEAS home Printed from https://ideas.repec.org/p/huj/dispap/dp284.html
   My bibliography  Save this paper

Long Cheap Talk

Author

Listed:
  • Robert J. Aumann
  • Sergiu Hart

Abstract

With cheap talk, more can be achieved by long conversations than by a single message - even when one side is strictly better informed than the other.

Suggested Citation

  • 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.
    • Handle: RePEc:huj:dispap:dp284
    as

    Download full text from publisher

    File URL: http://www.ma.huji.ac.il/~hart/papers/long.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Rabin, Matthew & Sobel, Joel, 1996. "Deviations, Dynamics, and Equilibrium Refinements," Journal of Economic Theory, Elsevier, vol. 68(1), pages 1-25, January.
    2. Rabin, Matthew, 1990. "Communication between rational agents," Journal of Economic Theory, Elsevier, vol. 51(1), pages 144-170, June.
    3. Marco Battaglini, 2002. "Multiple Referrals and Multidimensional Cheap Talk," Econometrica, Econometric Society, vol. 70(4), pages 1379-1401, July.
    4. repec:dau:papers:123456789/184 is not listed on IDEAS
    5. Robson, A.J., 1989. "Efficiency In Evolutionary Games: Darwin, Nash And Secret Handshake," Papers 89-22, Michigan - Center for Research on Economic & Social Theory.
    6. Blume Andreas & Sobel Joel, 1995. "Communication-Proof Equilibria in Cheap-Talk Games," Journal of Economic Theory, Elsevier, vol. 65(2), pages 359-382, April.
    7. Blume Andreas & Kim Yong-Gwan & Sobel Joel, 1993. "Evolutionary Stability in Games of Communication," Games and Economic Behavior, Elsevier, vol. 5(4), pages 547-575, October.
    8. Myerson, Roger B., 1994. "Communication, correlated equilibria and incentive compatibility," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 24, pages 827-847, Elsevier.
    9. Forges, Francoise, 1992. "Repeated games of incomplete information: Non-zero-sum," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 6, pages 155-177, Elsevier.
    10. Forges, Francoise, 1990. "Universal Mechanisms," Econometrica, Econometric Society, vol. 58(6), pages 1341-1364, November.
    11. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
    12. Sergiu Hart, 1985. "Nonzero-Sum Two-Person Repeated Games with Incomplete Information," Mathematics of Operations Research, INFORMS, vol. 10(1), pages 117-153, February.
    13. repec:cor:louvrp:-636 is not listed on IDEAS
    14. Sandeep Baliga & Tomas Sjöström, 2004. "Arms Races and Negotiations," Review of Economic Studies, Oxford University Press, vol. 71(2), pages 351-369.
    15. Banerjee, Abhijit & Weibull, Jorgen W., 2000. "Neutrally Stable Outcomes in Cheap-Talk Coordination Games," Games and Economic Behavior, Elsevier, vol. 32(1), pages 1-24, July.
    16. Mertens,Jean-François & Sorin,Sylvain & Zamir,Shmuel, 2015. "Repeated Games," Cambridge Books, Cambridge University Press, number 9781107030206, October.
      • Mertens,Jean-François & Sorin,Sylvain & Zamir,Shmuel, 2015. "Repeated Games," Cambridge Books, Cambridge University Press, number 9781107662636, October.
    17. Farrell Joseph, 1993. "Meaning and Credibility in Cheap-Talk Games," Games and Economic Behavior, Elsevier, vol. 5(4), pages 514-531, October.
    18. Matthews, Steven A. & Okuno-Fujiwara, Masahiro & Postlewaite, Andrew, 1991. "Refining cheap-talk equilibria," Journal of Economic Theory, Elsevier, vol. 55(2), pages 247-273, December.
    19. Vijay Krishna, 2002. "Eliciting Information from an Expert: The Art of Conversation (joint with John Morgan)," Theory workshop papers 357966000000000092, UCLA Department of Economics.
    20. Baliga, Sandeep & Morris, Stephen, 2002. "Co-ordination, Spillovers, and Cheap Talk," Journal of Economic Theory, Elsevier, vol. 105(2), pages 450-468, August.
    21. Françoise Forges, 1990. "Equilibria with Communication in a Job Market Example," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 375-398.
    22. Ben-Porath, Elchanan, 1998. "Correlation without Mediation: Expanding the Set of Equilibrium Outcomes by "Cheap" Pre-play Procedures," Journal of Economic Theory, Elsevier, vol. 80(1), pages 108-122, May.
    23. Joseph Farrell & Matthew Rabin, 1996. "Cheap Talk," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 103-118, Summer.
    24. Simon, Robert Samuel, 2002. "Separation of joint plan equilibrium payoffs from the min-max functions," Games and Economic Behavior, Elsevier, vol. 41(1), pages 79-102, October.
    25. Warneryd Karl, 1993. "Cheap Talk, Coordination, and Evolutionary Stability," Games and Economic Behavior, Elsevier, vol. 5(4), pages 532-546, October.
    26. Ben-Porath, Elchanan, 2003. "Cheap talk in games with incomplete information," Journal of Economic Theory, Elsevier, vol. 108(1), pages 45-71, January.
    27. Gerardi, Dino, 2004. "Unmediated communication in games with complete and incomplete information," Journal of Economic Theory, Elsevier, vol. 114(1), pages 104-131, January.
    28. Green, Jerry R. & Stokey, Nancy L., 2007. "A two-person game of information transmission," Journal of Economic Theory, Elsevier, vol. 135(1), pages 90-104, July.
    29. Lehrer, Ehud & Sorin, Sylvain, 1997. "One-Shot Public Mediated Talk," Games and Economic Behavior, Elsevier, vol. 20(2), pages 131-148, August.
    30. Zapater, Inigo, 1997. "Credible Proposals in Communication Games," Journal of Economic Theory, Elsevier, vol. 72(1), pages 173-197, January.
    31. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-1451, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.
    2. Forges, Francoise & Koessler, Frederic, 2005. "Communication equilibria with partially verifiable types," Journal of Mathematical Economics, Elsevier, vol. 41(7), pages 793-811, November.
    3. Forges, Françoise & Koessler, Frédéric, 2008. "Long persuasion games," Journal of Economic Theory, Elsevier, vol. 143(1), pages 1-35, November.
    4. Heller, Yuval & Solan, Eilon & Tomala, Tristan, 2012. "Communication, correlation and cheap-talk in games with public information," Games and Economic Behavior, Elsevier, vol. 74(1), pages 222-234.
    5. Adrian Groot Ruiz & Theo Offerman & Sander Onderstal, 2014. "For those about to talk we salute you: an experimental study of credible deviations and ACDC," Experimental Economics, Springer;Economic Science Association, vol. 17(2), pages 173-199, June.
    6. Heller, Yuval, 2010. "Minority-proof cheap-talk protocol," Games and Economic Behavior, Elsevier, vol. 69(2), pages 394-400, July.
    7. Olszewski, Wojciech, 2006. "Rich language and refinements of cheap-talk equilibria," Journal of Economic Theory, Elsevier, vol. 128(1), pages 164-186, May.
    8. Olszewski, Wojciech, 2004. "Informal communication," Journal of Economic Theory, Elsevier, vol. 117(2), pages 180-200, August.
    9. repec:dau:papers:123456789/5279 is not listed on IDEAS
    10. Vida, Péter & Āzacis, Helmuts, 2013. "A detail-free mediator," Games and Economic Behavior, Elsevier, vol. 81(C), pages 101-115.
    11. de Groot Ruiz, Adrian & Offerman, Theo & Onderstal, Sander, 2015. "Equilibrium selection in experimental cheap talk games," Games and Economic Behavior, Elsevier, vol. 91(C), pages 14-25.
    12. Serrano, Roberto & Ray, Indrajit & Kar, Anirban, 2005. "Multiple equilibria as a difficulty in understanding correlated distributions," UC3M Working papers. Economics we057238, Universidad Carlos III de Madrid. Departamento de Economía.
    13. Paola Manzini & Abdolkarim Sadrieh & Nicolaas J. Vriend, 2009. "On Smiles, Winks and Handshakes as Coordination Devices," Economic Journal, Royal Economic Society, vol. 119(537), pages 826-854, April.
    14. Blume, Andreas & DeJong, Douglas V. & Kim, Yong-Gwan & Sprinkle, Geoffrey B., 2001. "Evolution of Communication with Partial Common Interest," Games and Economic Behavior, Elsevier, vol. 37(1), pages 79-120, October.
    15. Gerardi, Dino, 2004. "Unmediated communication in games with complete and incomplete information," Journal of Economic Theory, Elsevier, vol. 114(1), pages 104-131, January.
    16. Vida, Péter & Forges, Françoise, 2013. "Implementation of communication equilibria by correlated cheap talk: The two-player case," Theoretical Economics, Econometric Society, vol. 8(1), January.
    17. Andreas Blume, 1995. "Information Transmission and Preference Similarity," Game Theory and Information 9504002, University Library of Munich, Germany, revised 29 May 1996.
    18. Andreas Blume & Douglas V. DeJong & George R. Neumann & N. E. Savin, 2002. "Learning and communication in sender-receiver games: an econometric investigation," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 17(3), pages 225-247.
    19. Vijay Krishna, R., 2007. "Communication in games of incomplete information: Two players," Journal of Economic Theory, Elsevier, vol. 132(1), pages 584-592, January.
    20. Chen, Ying, 2011. "Perturbed communication games with honest senders and naive receivers," Journal of Economic Theory, Elsevier, vol. 146(2), pages 401-424, March.
    21. Grillo, Edoardo, 2016. "The hidden cost of raising voters’ expectations: Reference dependence and politicians’ credibility," Journal of Economic Behavior & Organization, Elsevier, vol. 130(C), pages 126-143.

    More about this item

    Keywords

    cheap talk; communication; long conversation; incomplete information; game theory; signalling; joint lottery; dimartingale; di-span;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:huj:dispap:dp284. 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: . General contact details of provider: https://edirc.repec.org/data/crihuil.html .

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael Simkin (email available below). General contact details of provider: https://edirc.repec.org/data/crihuil.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.