Selecting cheap-talk equilibria
There are typically multiple equilibrium outcomes in the Crawford-Sobel (CS) model of strategic information transmission. This paper identifies a simple condition on equilibrium payoffs, called NITS (no incentive to separate), that selects among CS equilibria. Under a commonly used regularity condit...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
2008-01.
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| Subjects: | |
| Online Access: | Get fulltext |