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Dynamic Strategic Information Transmission

  • Mikhail Golosov
  • Vasiliki Skreta
  • Aleh Tsyvinski
  • Andrea Wilson

This paper studies strategic information transmission in a dynamic environment where, each period, a privately informed expert sends a message and a decision maker takes an action. Our main result is that, in contrast to a static environment, full information revelation is possible. The gradual revelation of information and the eventual full revelation is supported by the dynamic rewards and punishments. The construction of a fully revealing equilibrium relies on two key features. The first feature is that the expert is incentivized, via appropriate actions, to join separable groups in which she initially pools with far-away types, then later reveals her type. The second feature is the use of trigger strategies. The decision maker is incentivized by the reward of further information revelation if he chooses the separation-inducing actions, and the threat of a stop in information release if he does not. Our equilibrium is non-monotonic. With monotonic partition equilibria, full revelation is impossible.

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Paper provided by New York University, Leonard N. Stern School of Business, Department of Economics in its series Working Papers with number 13-03.

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Date of creation: 2013
Date of revision:
Handle: RePEc:ste:nystbu:13-03
Contact details of provider: Postal: New York University, Leonard N. Stern School of Business, Department of Economics, 44 West 4th Street, New York, NY 10012-1126
Phone: (212) 998-0860
Fax: (212) 995-4218
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  1. Sandeep Baliga & Tomas Sjostrom, 2012. "The Strategy of Manipulating Conflict," American Economic Review, American Economic Association, vol. 102(6), pages 2897-2922, October.
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  6. Luca Anderlini & Dino Gerardi & Roger Lagunoff, 2008. "Communication and Learning," Cowles Foundation Discussion Papers 1639, Cowles Foundation for Research in Economics, Yale University.
  7. Susan Athey & Ilya Segal, 2013. "An Efficient Dynamic Mechanism," Econometrica, Econometric Society, vol. 81(6), pages 2463-2485, November.
  8. Francoise Forges & Frédéric Koessler, 2006. "Long Persuasion Games," CESifo Working Paper Series 1669, CESifo Group Munich.
  9. Sandeep Baliga & Tomas Sjöström, 2006. "Strategic Ambiguity and Arms Proliferation," Levine's Bibliography 122247000000001247, UCLA Department of Economics.
  10. Frederic Koessler & Francoise Forges, 2006. "Multistage communication with and without verifiable types," THEMA Working Papers 2006-14, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  11. Jerome Mathis, 2006. "Full Revelation of Information in Sender-Receiver Games of Persuasion," THEMA Working Papers 2006-02, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  12. Goltsman, Maria & Hörner, Johannes & Pavlov, Gregory & Squintani, Francesco, 2009. "Mediation, arbitration and negotiation," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1397-1420, July.
  13. Renault, Jérôme & Solan, Eilon & Vieille, Nicolas, 2013. "Dynamic sender–receiver games," Journal of Economic Theory, Elsevier, vol. 148(2), pages 502-534.
  14. Ronny Razin & Gilat Levy, 2004. "Multidimentional Cheap Talk," 2004 Meeting Papers 184, Society for Economic Dynamics.
  15. Goltsman, Maria & Pavlov, Gregory, 2011. "How to talk to multiple audiences," Games and Economic Behavior, Elsevier, vol. 72(1), pages 100-122, May.
  16. Kartik, Navin & Ottaviani, Marco & Squintani, Francesco, 2007. "Credulity, lies, and costly talk," Journal of Economic Theory, Elsevier, vol. 134(1), pages 93-116, May.
  17. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-51, November.
  18. Ottaviani, Marco & Sorensen, Peter Norman, 2006. "Professional advice," Journal of Economic Theory, Elsevier, vol. 126(1), pages 120-142, January.
  19. repec:rje:randje:v:37:y:2006:1:p:155-175 is not listed on IDEAS
  20. Gilat Levy & Ronny Razin, 2007. "On the Limits of Communication in Multidimensional Cheap Talk: A Comment," Econometrica, Econometric Society, vol. 75(3), pages 885-893, 05.
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