Quantitative Economics
Journal Of The Econometric Society
Edited by: Stéphane Bonhomme • Print ISSN: 1759-7323 • Online ISSN: 1759-7331
Quantitative Economics: Mar, 2016, Volume 7, Issue 1
Communication with multiple senders: An experiment
Emanuel Vespa, Alistair J. Wilson
We implement multi‐sender cheap talk in the laboratory. While full‐information transmission is not theoretically feasible in the standard one‐sender–one‐ dimension model, in this setting with more senders and dimensions, full revelation is generically a robust equilibrium outcome. Our experimental results indicate that fully revealing outcomes are selected in particular settings, but that partial‐information transmission is the norm. We uncover a number of behavioral patterns: On the one hand, senders follow exaggeration strategies, qualitatively similar to those predicted by a special case for the fully revealing equilibrium. Receivers, on the other hand, follow differing heuristics depending on the senders' biases, which are not always sequentially rational. When full revelation is observed it can be explained as the intersection of the receiver heuristics with the equilibrium response.
Information transmission cheap talk multiple senders full revelation C72 C92 D83 D84
Supplemental Material
Supplement to "Communication with multiple senders: An experiment"
Supplement to "Communication with multiple senders: An experiment"
Supplement to "Communication with multiple senders: An experiment"
Journal News
March 5, 2024
Announcing the New Journal Editors
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
