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We study a model of cheap talk with one substantive assumption: The sender's preferences are state independent. Our main observation is that such a sender gains credibility by degrading self-serving information. Using this observation, we examine the sender's benefits from communication, assess...
Persistent link: https://www.econbiz.de/10012854470
An expert advises a decision maker over time. With both the quality of advice and the extent to which it is followed remaining private, the players have limited information with which to discipline each other. Even so, communication in and of itself facilitates cooperation, the relationship...
Persistent link: https://www.econbiz.de/10012864894
Persistent link: https://www.econbiz.de/10013374951