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gathering picking up during the recession period. We also find that forecast revisions depend on both own country and cross …-country lagged revisions. Therefore, one source of information rigidity is not to incorporate overseas events in forecast revisions …
Persistent link: https://www.econbiz.de/10014500886
Persistent link: https://www.econbiz.de/10003896769
Costly delay in negotiations can induce the negotiating parties to be more forthcoming with their information and improve the quality of the collective decision. Imposing a deadline may result in stalling, in which players at some point stop making concessions but switch back to conceding at the...
Persistent link: https://www.econbiz.de/10011690720
This paper analyzes multi-sender cheap talk when the state space might be restricted, either because the policy space is restricted, or the set of rationalizable policies of the receiver is not the whole space. We provide a necessary and sufficient condition for the existence of a fully...
Persistent link: https://www.econbiz.de/10011702234
We investigate strategic information transmission with communication error, or noise. Our main finding is that adding noise can improve welfare. With quadratic preferences and a uniform type distribution, welfare can be raised for almost every bias level by introducing a sufficiently small...
Persistent link: https://www.econbiz.de/10011702289
A game of incomplete information can be decomposed into a basic game and an information structure. The basic game defines the set of actions, the set of payoff states the payoff functions and the common prior over the payoff states. The information structure refers to the signals that the...
Persistent link: https://www.econbiz.de/10011672033
We investigate situations in which agents can communicate to each other only through a chain of intermediators, for example because they have to obey institutionalized communication protocols. We assume that all involved in the communication are strategic, and might want to influence the action...
Persistent link: https://www.econbiz.de/10011686974
This paper analyzes the optimal provision of incentives in a dynamic information acquisition process. In every period, the agent can acquire costly information that is relevant to the principal's decision. Each signal may or may not provide definitive evidence in favor of the good state. Neither...
Persistent link: https://www.econbiz.de/10011689319
We develop a dynamic framework of strategic information transmission through cheap talk in a social network. Privately informed agents have different preferences about the action to be implemented by each agent and repeatedly communicate with their neighbors in the network. We first characterize...
Persistent link: https://www.econbiz.de/10012020319
We formally explore the idea that punishment of norm-breakers may be a vehicle for the older generation to teach youngsters about social norms. We show that this signaling role provides sufficient incentives to sustain costly punishing behavior. People punish norm-breakers to pass information...
Persistent link: https://www.econbiz.de/10012014968