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סמינרים מחלקתיים

Decentralized Advice


We compare the amount of information that can be credibly transmitted
by strategic cheap talk when information is centralized to one sender
and when it is decentralized, with each of several senders holding a
distinct but interdependent piece. Under centralization, full
information transmission is typically impossible. Under
decentralization, however, the number of receivers is decisive:
decentralized communication with one receiver is completely
uninformative, but decentralized communication with multiple receivers
can be fully informative. We analyze the extent of such
fully-informative communication, and apply our results to issues of
transparency, collusion, and organizational design.