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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 convex categories. We give a full characterization of...
Persistent link: https://www.econbiz.de/10010272564
We develop a model of consulting (advising) where the role of the consultant is that she can reveal signals to her client which refine the client’s original private estimate of the profitability of a project. Importantly, only the client can observe or evaluate these signals, the consultant...
Persistent link: https://www.econbiz.de/10010273821
In a recent paper, Jäger, Metzger, and Riedel (2011) study communication games of common interest when signals are simple and types complex. They characterize strict Nash equilibria as so-called Voronoi languages that consist of Voronoi tesselations of the type set and Bayesian estimators on...
Persistent link: https://www.econbiz.de/10010319996
We develop a model of consulting (advising) where the role of the consultant is that she can reveal signals to her client which refine the client’s original private estimate of the profitability of a project. Importantly, only the client can observe or evaluate these signals, the consultant...
Persistent link: https://www.econbiz.de/10003780868
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 convex categories. We give a full characterization of...
Persistent link: https://www.econbiz.de/10003921430
I analyze common agency games in which the principals, and possibly the agent, have private information. I distinguish between games in which the principals delegate the final decisions to the agent, and games in which they retain some decision power after offering their mechanisms. I show that,...
Persistent link: https://www.econbiz.de/10009376226
In a recent paper, Jäger, Metzger, and Riedel (2011) study communication games of common interest when signals are simple and types complex. They characterize strict Nash equilibria as so-called Voronoi languages that consist of Voronoi tesselations of the type set and Bayesian estimators on...
Persistent link: https://www.econbiz.de/10009388067
A Sender wants to persuade a Receiver both to undertake a project, rather than default to an outside option, and, as part of that project, to take a particular action. The interests of the Sender and Receiver are aligned regarding choice of action, conditional on the Receiver undertaking the...
Persistent link: https://www.econbiz.de/10013114935
In this paper, I discuss strategic communication that arises during the allocation of a limited budget or resource, in the context of water allocation to two farmers by the social planner. Each farmer's need of water is bounded and only he knows about his exact need of water. Each farmer asks...
Persistent link: https://www.econbiz.de/10013089991
This paper studies a model of strategic communication by an informed and upwardly biased sender to one or more receivers. Applications include situations in which (i) it is costly for the sender to misrepresent information, due to legal, technological, or moral constraints, or (ii) receivers may...
Persistent link: https://www.econbiz.de/10012780030