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Evidence Games: Truth and Commitment

Listed author(s):
  • Sergiu Hart

    ()

  • Ilan Kremer
  • Motty Perry

An evidence game is a strategic disclosure game in which an agent who has different pieces of verifiable evidence decides which ones to disclose and which ones to conceal, and a principal chooses an action (a "reward"). The agent's preference is the same regardless of his information (his "type")—he always prefers the reward to be as high as possible—whereas the principal prefers the reward to fit the agent's type. We compare the setup where the principal chooses the action only after seeing the disclosed evidence, to the setup where the principal can commit ahead of time to a reward policy (the latter is the standard mechanism-design setup). We compare the setup where the principal chooses the action only after seeing the disclosed evidence to the setup where the principal can commit ahead of time to a reward policy (the mechanism-design setup). The main result is that under natural conditions on the truth structure of the evidence, the two setups yield the same equilibrium outcome.

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Paper provided by The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem in its series Discussion Paper Series with number dp684.

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Length: 61 pages
Date of creation: May 2015
Handle: RePEc:huj:dispap:dp684
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  1. 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 461-483, December.
  2. Bull, Jesse & Watson, Joel, 2007. "Hard evidence and mechanism design," Games and Economic Behavior, Elsevier, vol. 58(1), pages 75-93, January.
  3. Ben-Porath, Elchanan & Lipman, Barton L., 2012. "Implementation with partial provability," Journal of Economic Theory, Elsevier, vol. 147(5), pages 1689-1724.
  4. Pae, Suil, 2005. "Selective disclosures in the presence of uncertainty about information endowment," Journal of Accounting and Economics, Elsevier, vol. 39(3), pages 383-409, September.
  5. Sourav Bhattacharya & Arijit Mukherjee, 2013. "Strategic information revelation when experts compete to influence," RAND Journal of Economics, RAND Corporation, vol. 44(3), pages 522-544, 09.
  6. Sher, Itai, 2011. "Credibility and determinism in a game of persuasion," Games and Economic Behavior, Elsevier, vol. 71(2), pages 409-419, March.
  7. Paul R. Milgrom, 1981. "Good News and Bad News: Representation Theorems and Applications," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 380-391, Autumn.
  8. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
  9. Ilan Guttman & Ilan Kremer & Andrzej Skrzypacz, 2014. "Not Only What but Also When: A Theory of Dynamic Voluntary Disclosure," American Economic Review, American Economic Association, vol. 104(8), pages 2400-2420, August.
  10. repec:pit:wpaper:453 is not listed on IDEAS
  11. Hyun Song Shin, 2006. "Disclosure Risk and Price Drift," Journal of Accounting Research, Wiley Blackwell, vol. 44(2), pages 351-379, 05.
  12. 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.
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