We experimentally investigated whether continuous-time cheap talk improves the effort level in a minimal effort game with multiple Pareto-ranked Nash equilibria. In each round of the game, a player freely changes the message before he or she makes decisions, and constantly monitors other...

This study experimentally investigates the role of two-sided cheap talk in decisions under asymmetric information. Unlike previous studies, our study also considers endogenous investment timing. In our experiments, subjects play two-player global games with asymmetric information. Before making...