We develop a model of information exchange through communication and investigate its implications for information … to form a costly \textit{communication link} with, incurring the associated cost. After receiving a \textit …{private signal} correlated with the underlying state, they exchange information over the induced \textit{communication network} until …

other hand the decision makers rely too much on the received information. Moreover, communication as well as payoffs … communication is less biased. In all treatments, however, the messages are more precise than theoretically predicted. …

) equilibrium. Fully informative myopic and farsighted equilibria essentially take a particular simple form: all communication is … and analyze equilibrium welfare. Furthermore, we extend our model to public communication and investigate the implications …

of the bias parameter is common knowledge, communication between the players may exhibit misinterpretation (i.e., the …

communication games do not yield equilibria which (ex ante) outperform delegation. Referring to multiple experts allow the decision …-maker to obtain more information. However, this information can never be perfect, and sophisticated communication games, for … instance with multilateral, multistage communication, do not outperform simple communication methods …