We study a communication game of common interest in which the sender observes one of infinite types and sends one of finite messages which is interpreted by the receiver. In equilibrium there is no full separation but types are clustered into contiguous cells. We give a full characterization of...

We examine strategic information transmission in a controlled laboratory experiment of a cheap talk game with one sender and multiple receivers. We study the change in equilibrium behavior from the addition of another audience as well as from varying the degree of conflict between the senderʼs...

We show that in multi-sender communication games where senders imperfectly observe the state, if the state space is large enough, then there can exist equilibria arbitrarily close to full revelation of the state as the noise in the senders' observations gets small. In the case of replacement...

In this paper we study market environments where information is costly to acquire and is also useful to potential competitors. Agents may sell, or buy, reports over the information acquired and choose their trades in the market on the basis of what they learnt. Reports are unverifiable – cheap...

Several labor markets, including the job market for new Ph.D. economists, have recently developed formal signaling mechanisms. We show that such mechanisms are harmful for some environments. While signals transmit previously unavailable information, they also facilitate information asymmetry...

This paper studies a two-dimensional cheap talk game with two senders and one receiver. The senders possess the same information and sequentially send messages about that information. In one-dimensional sequential message cheap talk games where the state space is unbounded, the information is...

A principal acquires information about a shock and then discloses it to an agent. After the disclosure, the principal and agent each decide whether to take costly preparatory actions that yield mutual benefits but only when the shock strikes. The principal maximizes his expected payoff by ex...

We study type spaces where a player's type at a state is a conditional probability on the space. We axiomatize these spaces using conditional belief operators, examining three additional axioms of increasing strength. First, introspection, which requires the agent to be unconditionally certain...

We study learning with bounded memory in zero-sum repeated games with one-sided incomplete information. The uninformed player has only a fixed number of memory states available. His strategy is to choose a transition rule from state to state, and an action rule, which is a map from each memory...

This paper studies the value of private information in strictly competitive interactions in which there is a trade-off between (i) the short-run gain of using information, and (ii) the long-run gain of concealing it. We implement simple examples from the class of zero-sum repeated games with...