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Persistent link: https://www.econbiz.de/10003680232
There are typically multiple equilibrium outcomes in the Crawford-Sobel (CS) model of strategic information transmission. This paper identifies a simple condition on equilibrium payoffs, called NITS (no incentive to separate), that selects among CS equilibria. Under a commonly used regularity...
Persistent link: https://www.econbiz.de/10005332767
Persistent link: https://www.econbiz.de/10007894541