Cross-verification and persuasive cheap talk

Alp Atakan, Mehmet Ekmekci and Ludovic Renou

Journal of Economic Theory, 2024, vol. 222, issue C

Abstract: We study a cheap-talk game where two experts offer advice to a decision-maker whose actions affect the welfare of all. The experts cannot commit to reporting strategies. Yet, we show that the decision-maker's ability to cross-verify the experts' advice acts as a commitment device for the experts. We prove the existence of an equilibrium, where an expert's equilibrium payoff is equal to what he would obtain if he could commit to truthfully revealing his information.

Keywords: Bayesian persuasion; Information design; Commitment; Cheap talk; Multiple experts (search for similar items in EconPapers)
JEL-codes: C73 D82 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:222:y:2024:i:c:s0022053124001406

DOI: 10.1016/j.jet.2024.105934

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