Multiple Referrals and Multidimensional Cheap Talk
In previous work on cheap talk, uncertainty has almost always been modeled using a single-dimensional state variable. In this paper we prove that the dimensionality of the uncertain variable has an important qualitative impact on results and yields interesting insights into the "mechanics" of information transmission. Contrary to the unidimensional case, if there is more than one sender, full revelation of information in all states of nature is generically possible, even when the conflict of interest is arbitrarily large. What really matters in transmission of information is the local behavior of senders' indifference curves at the ideal point of the receiver, not the proximity of players' ideal point. Copyright The Econometric Society 2002.
(This abstract was borrowed from another version of this item.)
|Date of creation:||Jul 1999|
|Date of revision:|
|Contact details of provider:|| Postal: Center for Mathematical Studies in Economics and Management Science, Northwestern University, 580 Jacobs Center, 2001 Sheridan Road, Evanston, IL 60208-2014|
Web page: http://www.kellogg.northwestern.edu/research/math/
More information through EDIRC
|Order Information:|| Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Crawford, Vincent P & Sobel, Joel, 1982.
"Strategic Information Transmission,"
Econometric Society, vol. 50(6), pages 1431-51, November.
- Daniel Diermeier & Timothy J. Feddersen, 1998. "Information and Congressional Hearings," Discussion Papers 1236, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Austen-Smith David, 1993. "Interested Experts and Policy Advice: Multiple Referrals under Open Rule," Games and Economic Behavior, Elsevier, vol. 5(1), pages 3-43, January.
- Vijay Krishna & John Morgan, 2001.
"A Model of Expertise,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 116(2), pages 747-775.
- Vijay Krishna & John Morgan, 1999. "A Model of Expertise," Game Theory and Information 9902003, EconWPA.
- Krishna, V. & Morgan, J., 1999. "A Model of Expertise," Papers 206, Princeton, Woodrow Wilson School - Public and International Affairs.
- Vijay Krishna & John Morgan, 1999. "A Model of Expertise," Working Papers 154, Princeton University, Woodrow Wilson School of Public and International Affairs, Discussion Papers in Economics.
- repec:pri:wwseco:dp206 is not listed on IDEAS
- 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.
- Epstein, David, 1998. "Partisan and Bipartisan Signaling in Congress," Journal of Law, Economics and Organization, Oxford University Press, vol. 14(2), pages 183-204, October.
- Farrell, Joseph & Gibbons, Robert, 1989.
"Cheap Talk with Two Audiences,"
American Economic Review,
American Economic Association, vol. 79(5), pages 1214-23, December.
- Baliga, Sandeep, 1999. "Monitoring and Collusion with "Soft" Information," Journal of Law, Economics and Organization, Oxford University Press, vol. 15(2), pages 434-40, July.
When requesting a correction, please mention this item's handle: RePEc:nwu:cmsems:1295. 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: (Fran Walker)
If references are entirely missing, you can add them using this form.