the content of their communication reliably predicts subsequent prices. We find that already the mere mutual agreement to … meet predicts a strong increase in prices. Conversely, express distancing from communication completely nullifies its … otherwise price-increasing effect. Using machine learning, we show that communication only increases prices if it is very …

We study communication in ambiguous environments. Agents communicate individual decisions sequentially. Based on the …, the decisions differ no matter how long the communication lasts. Such persistent disagreements are precluded in Bayesian … frameworks endowed with a common prior. When communication is private and nobody is excluded from it, we show that ambiguity …