- 1 Post By paochai01
- 1 Post By beascarpetta
In the sentence below, what does "cheap talk" mean?
President Bush, notably, has not engaged in cheap talk of appeasement and lack of patriotism.
Re: cheap talk
It's a communication between players which does not directly affect the payoffs of the game.
Originally Posted by dilermando
This is in contrast to signaling in which sending certain messages may be costly for the sender depending on the state of the world.
The classic example is of an expert (say, ecological) trying to explain the state of the world to an uninformed decision maker (say, politician voting on a deforestation bill).
The decision maker, after hearing the report from the expert, must then make a decision which affects the payoffs of both players.
By Offroad in forum Ask a Teacher
Last Post: 10-Jul-2008, 19:49
By joham in forum Ask a Teacher
Last Post: 24-Dec-2007, 04:40
By peppy_man in forum Ask a Teacher
Last Post: 10-Jul-2005, 11:16
By azz in forum Ask a Teacher
Last Post: 25-Jan-2005, 22:02
Search Engine Optimization by vBSEO