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Refining Cheap-Talk Equilibria

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  • Steven A. Matthews
  • M. Okuno-Fujiwara
  • Andrew Postlewaite

Abstract

Several conceptual points are made concerning communication in games of asymmetric information. Equilibrium refinements of Sender-Receiver cheap-talk games that are based on he concept of a putative equilibrium, and which rely on the presence of a rich language with literal meanings, are discussed. Three nested criteria are proposed: strong announcement-proofness, announcement-proofness, and weak announcement-proofness.

Suggested Citation

  • Steven A. Matthews & M. Okuno-Fujiwara & Andrew Postlewaite, 1990. "Refining Cheap-Talk Equilibria," Discussion Papers 892R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  • Handle: RePEc:nwu:cmsems:892r
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    References listed on IDEAS

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    1. Rabin, Matthew, 1990. "Communication between rational agents," Journal of Economic Theory, Elsevier, vol. 51(1), pages 144-170, June.
    2. Myerson, Roger B., 1989. "Credible negotiation statements and coherent plans," Journal of Economic Theory, Elsevier, vol. 48(1), pages 264-303, June.
    3. Seidmann, Daniel J., 1990. "Effective cheap talk with conflicting interests," Journal of Economic Theory, Elsevier, vol. 50(2), pages 445-458, April.
    4. McLennan, Andrew, 1985. "Justifiable Beliefs in Sequential Equilibrium," Econometrica, Econometric Society, vol. 53(4), pages 889-904, July.
    5. In-Koo Cho & David M. Kreps, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, Oxford University Press, vol. 102(2), pages 179-221.
    6. Steven A. Matthews, 1989. "Veto Threats: Rhetoric in a Bargaining Game," The Quarterly Journal of Economics, Oxford University Press, vol. 104(2), pages 347-369.
    7. Banks, Jeffrey S & Sobel, Joel, 1987. "Equilibrium Selection in Signaling Games," Econometrica, Econometric Society, vol. 55(3), pages 647-661, May.
    8. Kohlberg, Elon & Mertens, Jean-Francois, 1986. "On the Strategic Stability of Equilibria," Econometrica, Econometric Society, vol. 54(5), pages 1003-1037, September.
    9. Joseph Farrell, 1985. "Credible Neologisms in Games of Communication," Working papers 386, Massachusetts Institute of Technology (MIT), Department of Economics.
    10. Grossman, Sanford J. & Perry, Motty, 1986. "Perfect sequential equilibrium," Journal of Economic Theory, Elsevier, vol. 39(1), pages 97-119, June.
    11. 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.
    12. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-1451, November.
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