Dynamic persuasion

This paper constructs a model of dynamic persuasion. A sender attempts to persuade a decision maker (DM) by sequentially revealing verifiable arguments, but this incurs communication costs. In equilibrium, the sender decides when to give up, and the DM decides when to make a decision. We characterize the DM-optimal equilibrium. We further show that the DM gains from making a stochastic commitment, and provide a condition under which it also makes the sender better-off.