We examine the roles and values of honesty and advocacy in communication by studying two closely-related variants of the standard cheap-talk game. In the honesty model, the sender is behavioral and honestly reveals the state with a positive probability. In the advocacy model, the sender is...

Market statistics can be viewed as noisy signals for true variables of interest. These signals are used by individual recipients of the statistics to imperfectly infer different variables of interest. This paper presents a framework under which the 'informativeness' of statistics is defined as...