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Competition in Persuasion

Author

Listed:
  • Matthew Gentzkow
  • Emir Kamenica

Abstract

We study symmetric information games where a number of senders choose what information to communicate. We show that the impact of competition on information revelation is ambiguous in general. We identify a condition on the information environment (i.e., the set of signals available to each sender) that is necessary and sufficient for equilibrium outcomes to be no less informative than the collusive outcome, regardless of preferences. The same condition also provides an easy way to characterize the equilibrium set and governs whether introducing additional senders or decreasing the alignment of senders’ preferences necessarily increases the amount of information revealed.

Suggested Citation

  • Matthew Gentzkow & Emir Kamenica, 2011. "Competition in Persuasion," NBER Working Papers 17436, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:17436
    Note: IO LE POL
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    File URL: http://www.nber.org/papers/w17436.pdf
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    References listed on IDEAS

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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. 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.
    3. Martimort, David & Stole, Lars, 2011. "Aggregate Representations of Aggregate Games," MPRA Paper 32871, University Library of Munich, Germany.
    4. Paul Milgrom & John Roberts, 1986. "Relying on the Information of Interested Parties," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 18-32, Spring.
    5. Isabelle Brocas & Juan Carrillo & Thomas Palfrey, 2012. "Information gatekeepers: theory and experimental evidence," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 649-676, November.
    6. Leland, Hayne E, 1981. "The Informational Role of Warranties and Private Disclosure about Product Quality: Comment," Journal of Law and Economics, University of Chicago Press, vol. 24(3), pages 485-489, December.
    7. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-180, January.
    8. 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.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. “Competition in Persuasion,” M. Gentzkow & E. Kamenica (2012)
      by afinetheorem in A Fine Theorem on 2014-04-18 00:34:59

    Citations

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    Cited by:

    1. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.
    2. Galasso, Vincenzo & Nannicini, Tommaso, 2013. "Men Vote in Mars, Women Vote in Venus: A Survey Experiment in the Field," CEPR Discussion Papers 9547, C.E.P.R. Discussion Papers.
    3. Gregor Martin, 2015. "To Invite or Not to Invite a Lobby, That Is the Question," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 15(2), pages 143-166, July.
    4. Martin Szydlowski & Briana Chang, 2017. "The Market for Conflicted Advice," 2017 Meeting Papers 133, Society for Economic Dynamics.
    5. Isabelle Brocas & Juan Carrillo & Thomas Palfrey, 2012. "Information gatekeepers: theory and experimental evidence," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 649-676, November.
    6. Ralph Boleslavsky & Christopher Cotton, 2011. "Learning More by Doing Less," Working Papers 2011-6, University of Miami, Department of Economics.
    7. Ennio Bilancini & Leonardo Boncinelli, 2014. "Persuasion with Reference Cues and Elaboration Costs," Center for Economic Research (RECent) 102, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    8. Yun Wang, 2015. "Bayesian Persuasion with Multiple Receivers," WISE Working Papers 2015-03-24, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.

    More about this item

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising

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