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| Author: | Kofman, F. Ratliff, J. |
| Title: | Monolog vs. dialog in costly bilateral communication |
| Journal: | Journal of Economic Behavior and Organization
1996 : DEC, VOL. 31:3, p. 431-444 |
| Index terms: | BILATERAL TRADE COMMUNICATION ECONOMICS |
| Language: | eng |
| Abstract: | The authors study a two-person team whose members hold private information and whose task is to optimally choose an action for the team when communication is costly. Information exchanges are classified as monologs or dialogs. They characterise the efficient frontier for monolog of decision error versus length of communication using a minimax metric. It can be optimal for one partner to act without communication in some circumstances even though the right to communicate has been paid for. |
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