Information Design, Bayesian Persuasion, and Bayes Correlated Equilibrium
American Economic Review
vol. 106,
no. 5, May 2016
(pp. 586-91)
Abstract
A set of players have preferences over a set of outcomes. We consider the problem of an "information designer" who can choose an information structure for the players to serve his ends, but has no ability to change the mechanism (or force the players to make particular action choices). We describe a unifying perspective for information design. We consider a simple example of Bayesian persuasion with both an uninformed and informed receiver. We extend information design to many player and relate it to the literature on incomplete information correlated equilibrium.Citation
Bergemann, Dirk, and Stephen Morris. 2016. "Information Design, Bayesian Persuasion, and Bayes Correlated Equilibrium." American Economic Review, 106 (5): 586-91. DOI: 10.1257/aer.p20161046Additional Materials
JEL Classification
- D82 Asymmetric and Private Information; Mechanism Design
- D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness