Academic Journal
THE BENEFITS OF MISCOMMUNICATION
| العنوان: | THE BENEFITS OF MISCOMMUNICATION |
|---|---|
| المؤلفون: | Armin Rick, Er Frankel, Emir Kamenica, Roger Myerson, Derek Neal, Eric Nielsen |
| المساهمون: | The Pennsylvania State University CiteSeerX Archives |
| المصدر: | http://home.uchicago.edu/~arick/Benefits_of_Miscommunication_Nov2013.pdf. |
| سنة النشر: | 2013 |
| المجموعة: | CiteSeerX |
| الوصف: | This paper investigates the effect of miscommunication on equilibrium information transmission, communication costs, and welfare. In particular, I analyze a persuasion mechanism between an informed sender and an uninformed receiver that nests a variety of prominent communication tech-nologies such as cheap talk, verifiable messages, and costly signaling. Miscommunication can often increase welfare by improving the tradeoff between information transmission and communication costs. Such gains result from two sources, (i) an expansion of the set of communication strategy profiles that can induce a given distribution of posterior beliefs or (ii) an expansion of the set of distributions of beliefs that the sender may expect to induce by unused messages in equilibrium. I illustrate gains from miscommunication in a competitive version of the Spence signaling game. In particular, I characterize optimal miscommunication and derive conditions for which any equilib-rium without miscommunication is Pareto dominated by an equilibrium with miscommunication. This requires perfect information transmission to be sufficiently costly (or not implementable) on the one hand and partial information transmission to be sufficiently valuable on the other. If the latter is true, optimal miscommunication can even transform a signaling technology that makes all types of the sender worse off into one that makes everyone better off. |
| نوع الوثيقة: | text |
| وصف الملف: | application/pdf |
| اللغة: | English |
| Relation: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.472.5998; http://home.uchicago.edu/~arick/Benefits_of_Miscommunication_Nov2013.pdf |
| الاتاحة: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.472.5998 http://home.uchicago.edu/~arick/Benefits_of_Miscommunication_Nov2013.pdf |
| Rights: | Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
| رقم الانضمام: | edsbas.4477815F |
| قاعدة البيانات: | BASE |
| الوصف غير متاح. |