Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
957783 | Journal of Economic Theory | 2006 | 23 Pages |
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.
Keywords
Related Topics
Social Sciences and Humanities
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Economics and Econometrics
Authors
Wojciech Olszewski,