Article ID Journal Published Year Pages File Type
957783 Journal of Economic Theory 2006 23 Pages PDF
Abstract

I formalize the notion of equilibrium language, define the relation of having a richer language, and show the existence of equilibria with maximally rich language. I also study the stability of equilibria with respect to inflows of messages that can enrich their language, and provide examples of implausible cheap-talk equilibria, not refined away by the existing refinements, which can be refined away on the grounds of stability properties.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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