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Miscommunication in an investment game with one-way messages

Listed author(s):
  • Di Bartolomeo Giovanni
  • Papa Stefano

This paper aims to study the effects of free-form messages (cheap talk) in an investment game as Berg et al. (1995). We guess that messages matter, but they may not affect the outcomes on average because different outcomes of communication can be systematically misunderstood generating different effects that offset each other. Considering a non-binary choice game, where misunderstandings are more likely to be observed, we test our intuition in two steps. First, we classify messages by their contents and then we verify their impact on participants’ behavior accordingly to their kind.

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File URL: http://wp.comunite.it/data/wp_no_123_2016.pdf
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Paper provided by Department of Communication, University of Teramo in its series wp.comunite with number 00123.

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Date of creation: Jul 2016
Handle: RePEc:ter:wpaper:00123
Contact details of provider: Web page: http://wp.comunite.it/

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  11. Bracht, Juergen & Feltovich, Nick, 2009. "Whatever you say, your reputation precedes you: Observation and cheap talk in the trust game," Journal of Public Economics, Elsevier, vol. 93(9-10), pages 1036-1044, October.
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  17. Beattie, Jane & Loomes, Graham, 1997. "The Impact of Incentives upon Risky Choice Experiments," Journal of Risk and Uncertainty, Springer, vol. 14(2), pages 155-168, March.
  18. Christoph Vanberg, 2008. "Why Do People Keep Their Promises? An Experimental Test of Two Explanations -super-1," Econometrica, Econometric Society, vol. 76(6), pages 1467-1480, November.
  19. Tore Ellingsen & Magnus Johannesson, 2004. "Promises, Threats and Fairness," Economic Journal, Royal Economic Society, vol. 114(495), pages 397-420, 04.
  20. Ganna Pogrebna & Pavlo Blavatskyy, 2009. "Coordination, focal points and voting in strategic situations: a natural experiment," IEW - Working Papers 403, Institute for Empirical Research in Economics - University of Zurich.
  21. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, vol. 10(1), pages 122-142, July.
  22. Blume, Andreas & Ortmann, Andreas, 2007. "The effects of costless pre-play communication: Experimental evidence from games with Pareto-ranked equilibria," Journal of Economic Theory, Elsevier, vol. 132(1), pages 274-290, January.
  23. Duffy, John & Feltovich, Nick, 2002. "Do Actions Speak Louder Than Words? An Experimental Comparison of Observation and Cheap Talk," Games and Economic Behavior, Elsevier, vol. 39(1), pages 1-27, April.
  24. Ganna Pogrebna & Pavlo Blavatskyy, 2009. "Coordination, focal points and voting in strategic situations: a natural experiment," Public Choice, Springer, vol. 140(1), pages 125-143, July.
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