Cheap Talk with Two Audiences: An Experiment
Mikhail Drugov (),
Roberto Hernán-González (),
Praveen Kujal () and
Marta Troya Martinez ()
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Roberto Hernán-González: Departamento de Teoría e Historia Económica, Universidad de Granada
Authors registered in the RePEc Author Service: Roberto Hernán González ()
Working Papers from Chapman University, Economic Science Institute
In this paper we experimentally test strategic information transmission between one informed and two uninformed agents in a cheap-talk game. We find evidence of the "disciplining" effect of public communication as compared to private; however, it is much weaker than predicted by the theory. Adding a second receiver naturally increases the complexity of strategic thinking when communication is public. Using the level-k model, we exploit the within subject design to show how individuals decrease their level-k in public communication. Surprisingly, we find that individuals become more sophisticated when they communicate privately with two receivers rather than one.
Keywords: Cheap Talk; Communication; Experiment; Level-k; Cognitive ability; Cognitive Reflection Test (search for similar items in EconPapers)
JEL-codes: C72 C92 D83 (search for similar items in EconPapers)
Pages: 28 pages
New Economics Papers: this item is included in nep-cbe, nep-cta, nep-exp and nep-gth
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Persistent link: https://EconPapers.repec.org/RePEc:chu:wpaper:13-32
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