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Demichelis, Stefano, and
Jorgen W. Weibull. 2008. "Language, Meaning, and Games: A Model of Communication, Coordination, and Evolution."
,
98(4): 1292-1311.
Show Article Details
DOI: 10.1257/aer.98.4.1292
Abstract:Language is a powerful coordination device. We generalize the cheap-talk
approach to pre-play communication by way of introducing a meaning correspondence
between messages and actions, and by postulating two axioms
met by natural languages. Players have a lexicographic preference, second to
material payoffs, against deviating from the meaning correspondence. Under
two-sided communication in generic and symmetric nxn-coordination games,
a Nash equilibrium component in such a lexicographic communication game is
evolutionarily stable if and only if it results in the unique Pareto efficient outcome
of the underlying game. We extend the analysis to one-sided communication
in arbitrary finite two-player games. (JEL C72, C73, Z13)
Authors:
Demichelis, Stefano (U Pavia)
Weibull, Jorgen W. (Stockholm School of Economics)
JEL Classifications:
C72: Noncooperative Games
C73: Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
Z13: Economic Sociology; Economic Anthropology
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