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Multiple Referrals and Multidimensional Cheap Talk

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  • Marco Battaglini

Abstract

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.
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  • Marco Battaglini, 1999. "Multiple Referrals and Multidimensional Cheap Talk," Discussion Papers 1295, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  • Handle: RePEc:nwu:cmsems:1295
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    1. repec:pri:wwseco:dp206 is not listed on IDEAS
    2. Farrell, Joseph & Gibbons, Robert, 1989. "Cheap Talk with Two Audiences," American Economic Review, American Economic Association, vol. 79(5), pages 1214-1223, December.
    3. Daniel Diermeier & Timothy J. Feddersen, 1998. "Information and Congressional Hearings," Discussion Papers 1236, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    4. Baliga, Sandeep, 1999. "Monitoring and Collusion with "Soft" Information," Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(2), pages 434-440, July.
    5. Vijay Krishna & John Morgan, 2001. "A Model of Expertise," The Quarterly Journal of Economics, Oxford University Press, vol. 116(2), pages 747-775.
    6. 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.
    7. 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.
    8. 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.
    9. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-1451, November.
    10. repec:cup:apsrev:v:81:y:1987:i:03:p:897-918_20 is not listed on IDEAS
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