Cabrales, Antonio and Feri, Francesco and Gottardi, Piero and Meléndez-Jiménez, Miguel A (2018) Can there be a Market for Cheap-Talk Information? An Experimental Investigation. Working Paper. CESifoWorkingPapers. (Unpublished)
Cabrales, Antonio and Feri, Francesco and Gottardi, Piero and Meléndez-Jiménez, Miguel A (2018) Can there be a Market for Cheap-Talk Information? An Experimental Investigation. Working Paper. CESifoWorkingPapers. (Unpublished)
Cabrales, Antonio and Feri, Francesco and Gottardi, Piero and Meléndez-Jiménez, Miguel A (2018) Can there be a Market for Cheap-Talk Information? An Experimental Investigation. Working Paper. CESifoWorkingPapers. (Unpublished)
Abstract
This paper reports on experiments testing the viability of markets for cheap talk information. We find that the poor quality of the information transmitted leads to a collapse of information markets. The reasons for this are surprising given the previous experimental results on cheap-talk games. Our subjects provide low-quality information even when doing so does not increase their monetary payoff.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Additional Information: | Source info: CESifo Working Paper Series No. 6975 |
| Uncontrolled Keywords: | D830; C720; G140; experiment; cheap talk; auction; information acquisition; information sale |
| Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Economics, Department of |
| SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
| Depositing User: | Unnamed user with email elements@essex.ac.uk |
| Date Deposited: | 16 Apr 2020 09:58 |
| Last Modified: | 18 Aug 2022 10:29 |
| URI: | http://repository.essex.ac.uk/id/eprint/27312 |
Available files
Filename: CFGM Jan20_fin_GEB.pdf