The art of brevity
研究了一类二次收益的发送者-接收者博弈,发现即使允许任意复杂的中介沟通,最优期望收益也能通过一轮面对面廉价谈话实现,并给出了收益的显式表达式和比较静态分析。
We analyze a class of sender-receiver games with quadratic payoffs, which includes the communication games in Alonso et al. (2008) and Rantakari (2008) as special cases, for which the sender’s or the receiver’s maximum expected payoff when players have access to arbitrary, mediated communication protocols is attained in one round of face-to-face, unmediated cheap talk. This result is based on the existence for these games of a communication equilibrium with an infinite number of partitions of the state space. We provide explicit expressions for the maximum expected payoff of the sender and the receiver, and illustrate its use by deriving new comparative statics of the quality of optimal communication. For instance, a shift in the underlying uncertainty that reduces expected conflict can worsen the quality of communication.