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Information Transmission and Preference Similarity

  • Blume, A.

    ()

    (University of Iowa)

This paper proposes as a solution concept for games sets of Nash equilibria that are stable against replacement by alternative Nash equilibria. We prove existence, examine some variants that are related to evolutionary solution concepts, and, most importantly, offer a unified approach to predicting outcomes in sender-receiver games with imperfect incentive alignment. We strenghten predictions under partial common interest conditions as well as reject uninformative equilibria in Crawford and Sobel's parametric model of preference similarity.

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Paper provided by University of Iowa, Department of Economics in its series Working Papers with number 97-11.

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Length: 31 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:uia:iowaec:97-11
Contact details of provider: Postal: University of Iowa, Department of Economics, Henry B. Tippie College of Business, Iowa City, Iowa 52242
Phone: (319) 335-0829
Fax: (319) 335-1956
Web page: http://tippie.uiowa.edu/economics/
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  1. Joseph Farrell., 1986. "Meaning and Credibility in Cheap-Talk Games," Economics Working Papers 8609, University of California at Berkeley.
  2. Georg Nöldeke & Larry Samuelson, 1992. "The Evolutionary Foundations of Backward and Forward Induction," Discussion Paper Serie B 216, University of Bonn, Germany.
  3. 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.
  4. Blume, A. & De Jong, D.V. & Kim, Y.G. & Sprinkle, G.B., 1994. "Evolution of the Meaning of Messages in Sender-Receiver Games: An Experiment," Papers 9491, Tilburg - Center for Economic Research.
  5. David Austen-Smith & Jeffrey S. Banks, 1998. "Cheap Talk and Burned Money," Discussion Papers 1245, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Stein, Jeremy C, 1989. "Cheap Talk and the Fed: A Theory of Imprecise Policy Announcements," American Economic Review, American Economic Association, vol. 79(1), pages 32-42, March.
  7. Rabin, Matthew & Sobel, Joel, 1993. "Deviations, Dynamics and Equilibrium Refinements," Department of Economics, Working Paper Series qt40s882v6, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  8. Swinkels, J., 1991. "Evolutionary Stability with Equilibrium Entrants," Papers 9, Stanford - Institute for Thoretical Economics.
  9. Rabin, Matthew, 1990. "Communication between rational agents," Journal of Economic Theory, Elsevier, vol. 51(1), pages 144-170, June.
  10. Blume, A., 1993. "Neighborhood Stability in Sender-Receiver Games," Working Papers 93-15, University of Iowa, Department of Economics.
  11. Gilboa, Itzhak & Matsui, Akihiko, 1991. "Social Stability and Equilibrium," Econometrica, Econometric Society, vol. 59(3), pages 859-67, May.
  12. Roger B. Myerson, 1986. "Credible Negotiation Statements and Coherent Plans," Discussion Papers 691, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  13. Kohlberg, Elon & Mertens, Jean-Francois, 1986. "On the Strategic Stability of Equilibria," Econometrica, Econometric Society, vol. 54(5), pages 1003-37, September.
  14. V. Crawford & J. Sobel, 2010. "Strategic Information Transmission," Levine's Working Paper Archive 544, David K. Levine.
  15. A. Blume & Y. G. Kim & J. Sobel, 2010. "Evolutionary Stability in Games of Communication," Levine's Working Paper Archive 530, David K. Levine.
  16. Matsui, Akihiko, 1992. "Best response dynamics and socially stable strategies," Journal of Economic Theory, Elsevier, vol. 57(2), pages 343-362, August.
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