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Bayesian persuasion with multiple senders and rich signal spaces

2017; Elsevier BV; Volume: 104; Linguagem: Inglês

10.1016/j.geb.2017.05.004

1090-2473

Matthew Gentzkow, Emir Kamenica,

Experimental Behavioral Economics Studies

A number of senders with no ex ante private information publicly choose signals whose realizations they observe privately. Senders then convey verifiable messages about their signal realizations to a receiver who takes a non-contractible action that affects the welfare of all players. The space of available signals includes all conditional distributions of signal realizations and allows any sender to choose a signal that is arbitrarily correlated with signals of others. We characterize the information revealed in pure-strategy equilibria and show that greater competition tends to increase the amount of information revealed.