A low opening offer is a common advice given to bargainers trying to achieve a low price. Such low offers can lead to low prices through different mechanisms. It can signal that you are a tough negotiator, it can commit you to a hard-nosed strategy, or it can anchor your opponent on a low...

We experimentally study the strategic transmission of information in a setting where both cheap talk and money can be used for communication purposes. Theoretically a large number of equilibria exist side by side, in which senders either use costless messages, money, or a combination of the two....