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Communication, Risk and Efficiency in Games

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  • Blume, A.

    () (University of Iowa)

Abstract

This paper studies the evolution of effective pre-play communication in game where a single communication round precedes a simultaneous-move, complete-information game.

Suggested Citation

  • Blume, A., 1996. "Communication, Risk and Efficiency in Games," Working Papers 96-03, University of Iowa, Department of Economics.
  • Handle: RePEc:uia:iowaec:96-03
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    References listed on IDEAS

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    1. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, March.
    2. Ellison, Glenn, 1993. "Learning, Local Interaction, and Coordination," Econometrica, Econometric Society, vol. 61(5), pages 1047-1071, September.
    3. Hurkens, S., 1993. "Multi-sided Pre-play Communication by Burning Money," Discussion Paper 1993-19, Tilburg University, Center for Economic Research.
    4. Warneryd, Karl, 1991. "Evolutionary stability in unanimity games with cheap talk," Economics Letters, Elsevier, vol. 36(4), pages 375-378, August.
    5. Carlsson, Hans & van Damme, Eric, 1993. "Global Games and Equilibrium Selection," Econometrica, Econometric Society, vol. 61(5), pages 989-1018, September.
    6. Basu, Kaushik & Weibull, Jorgen W., 1991. "Strategy subsets closed under rational behavior," Economics Letters, Elsevier, vol. 36(2), pages 141-146, June.
    7. Ritzberger, Klaus & Weibull, Jorgen W, 1995. "Evolutionary Selection in Normal-Form Games," Econometrica, Econometric Society, vol. 63(6), pages 1371-1399, November.
    8. Blume Andreas & Kim Yong-Gwan & Sobel Joel, 1993. "Evolutionary Stability in Games of Communication," Games and Economic Behavior, Elsevier, vol. 5(4), pages 547-575, October.
    9. Russell Cooper & Douglas V. DeJong & Robert Forsythe & Thomas W. Ross, 1992. "Communication in Coordination Games," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 739-771.
    10. Van Huyck, John B. & Gillette, Ann B. & Battalio, Raymond C., 1992. "Credible assignments in coordination games," Games and Economic Behavior, Elsevier, vol. 4(4), pages 606-626, October.
    11. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    12. Matsui, Akihiko, 1991. "Cheap-talk and cooperation in a society," Journal of Economic Theory, Elsevier, vol. 54(2), pages 245-258, August.
    13. Farrell, Joseph, 1988. "Communication, coordination and Nash equilibrium," Economics Letters, Elsevier, vol. 27(3), pages 209-214.
    14. Ben-Porath, Elchanan & Dekel, Eddie, 1992. "Signaling future actions and the potential for sacrifice," Journal of Economic Theory, Elsevier, vol. 57(1), pages 36-51.
    15. Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, vol. 61(1), pages 29-56, January.
    16. Ehud Kalai & Dov Samet, 1982. "Persistent Equilibria in Strategic Games," Discussion Papers 515, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    17. Bhaskar, V., 1998. "Noisy Communication and the Evolution of Cooperation," Journal of Economic Theory, Elsevier, vol. 82(1), pages 110-131, September.
    18. Gilboa, Itzhak & Matsui, Akihiko, 1991. "Social Stability and Equilibrium," Econometrica, Econometric Society, vol. 59(3), pages 859-867, May.
    19. van Damme, Eric, 1989. "Stable equilibria and forward induction," Journal of Economic Theory, Elsevier, vol. 48(2), pages 476-496, August.
    20. Swinkels, Jeroen M., 1992. "Evolutionary stability with equilibrium entrants," Journal of Economic Theory, Elsevier, vol. 57(2), pages 306-332, August.
    21. Joseph Farrell & Matthew Rabin, 1996. "Cheap Talk," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 103-118, Summer.
    22. Hurkens, Sjaak, 1996. "Multi-sided Pre-play Communication by Burning Money," Journal of Economic Theory, Elsevier, vol. 69(1), pages 186-197, April.
    23. Akihiko Matsui, 1989. "Cheap Talk and Cooperation in the Society," Discussion Papers 848, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    24. Kim, Yong-Gwan & Sobel, Joel, 1995. "An Evolutionary Approach to Pre-play Communication," Econometrica, Econometric Society, vol. 63(5), pages 1181-1193, September.
    25. Hurkens Sjaak, 1995. "Learning by Forgetful Players," Games and Economic Behavior, Elsevier, vol. 11(2), pages 304-329, November.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Giordani, Paolo E. & Ruta, Michele, 2013. "Coordination failures in immigration policy," Journal of International Economics, Elsevier, vol. 89(1), pages 55-67.
    2. Charness, Gary, 2000. "Self-Serving Cheap Talk: A Test Of Aumann's Conjecture," Games and Economic Behavior, Elsevier, vol. 33(2), pages 177-194, November.
    3. Kenichi Amaya, 2004. "An Evolutionary Analysis of Pre-Play Communication and Efficiency in Games," Discussion Paper Series 165, Research Institute for Economics & Business Administration, Kobe University.
    4. Claudia M. Landeo & Kathryn E. Spier, 2009. "Naked Exclusion: An Experimental Study of Contracts with Externalities," American Economic Review, American Economic Association, vol. 99(5), pages 1850-1877, December.
    5. Andreas Blume & Peter H. Kriss & Roberto A. Weber, 2017. "Pre-play communication with forgone costly messages: experimental evidence on forward induction," Experimental Economics, Springer;Economic Science Association, vol. 20(2), pages 368-395, June.
    6. Geir B. Asheim & Mark Voorneveld & Jörgen W. Weibull, 2016. "Epistemically Robust Strategy Subsets," Games, MDPI, Open Access Journal, vol. 7(4), pages 1-16, November.
    7. Ellingsen, Tore & Östling, Robert, 2006. "Organizational Structure as the Channeling of Boundedly Rational Pre-play Communication," SSE/EFI Working Paper Series in Economics and Finance 634, Stockholm School of Economics.
    8. Tore Ellingsen & Robert Östling, 2010. "When Does Communication Improve Coordination?," American Economic Review, American Economic Association, vol. 100(4), pages 1695-1724, September.
    9. Stefano Demichelis & Jorgen W. Weibull, 2008. "Language, Meaning, and Games: A Model of Communication, Coordination, and Evolution," American Economic Review, American Economic Association, vol. 98(4), pages 1292-1311, September.
    10. repec:eee:jeeman:v:83:y:2017:i:c:p:68-89 is not listed on IDEAS
    11. Paola Manzini & Abdolkarim Sadrieh & Nicolaas J. Vriend, 2009. "On Smiles, Winks and Handshakes as Coordination Devices," Economic Journal, Royal Economic Society, vol. 119(537), pages 826-854, April.
    12. Demichelis, Stefano & Weibull, Jörgen, 2006. "Efficiency, communication and honesty," SSE/EFI Working Paper Series in Economics and Finance 645, Stockholm School of Economics, revised 28 Nov 2006.
    13. Serra-Garcia, Marta & van Damme, Eric & Potters, Jan, 2011. "Hiding an inconvenient truth: Lies and vagueness," Games and Economic Behavior, Elsevier, vol. 73(1), pages 244-261, September.
    14. Vidu,L., 1999. "The minimal quota for a complete and transitive majority relation," Center for Mathematical Economics Working Papers 316, Center for Mathematical Economics, Bielefeld University.
    15. Sobel, Joel, 2017. "A note on pre-play communication," Games and Economic Behavior, Elsevier, vol. 102(C), pages 477-486.
    16. Kenichi Amaya, 2006. "Two-Speed Evolution with Pre-Play Communication and Limited Flexibility," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(2), pages 310-325, April.
    17. 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.
    18. Geir B. , Asheim & Voorneveld, Max & W. Weibull, Jörgen, 2009. "Epistemically Stable Strategy Sets," Memorandum 01/2010, Oslo University, Department of Economics.

    More about this item

    Keywords

    GAME THEORY; RISK; COMMUNICATION;

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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