Multi-sender cheap talk with almost common information

Elshan Garashli ()
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Elshan Garashli: University of Graz, Austria

No 2026-22, Graz Economics Papers from University of Graz, Department of Economics

Abstract: Multiple experts often observe information that is nearly, but not exactly, common. We study a multi-sender cheap talk model with an ε-mixture prior that varies correlation while holding marginals fixed. Correlation determines which message profiles are governed by Bayes' rule. Full revelation can be supported at perfect correlation, but any independent component rules it out. This is not a collapse of communication. Informative equilibria still exist with almost common information and can be partitional or nonpartitional. With similar information, partitional equilibria survive only on a strict subset of their perfect-correlation bias region, while nonpartitional equilibria remain feasible throughout their perfect-correlation bias region.

Keywords: Cheap talk; communication; information transmission; correlation; robustness (search for similar items in EconPapers)
JEL-codes: C72 D82 D83 (search for similar items in EconPapers)
Date: 2026-10
New Economics Papers: this item is included in nep-mic
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