Communication, correlation and cheap-talk in games with public information
Tristan Tomala, Yuval Heller, Eilon Solan
Abstract
Tristan Tomala, Yuval Heller, Eilon Solan
Abstract
This paper studies extensive form games with public information where all players have the same information at each point in time. We prove that when there are at least three players, all communication equilibrium payoffs can be obtained by unmediated cheap-talk procedures. The result encompasses repeated games and stochastic games.
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This paper studies extensive form games with public information where all players have the same information at each point in time. We prove that when there are at least three players, all communication equilibrium payoffs can be obtained by unmediated cheap-talk procedures. The result encompasses repeated games and stochastic games.
Key concepts: Cheap talk, Mathematical economics, Point (geometry), Repeated game, Public information, Complete information, Computer science, Economics