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Thread: cheap talk

  1. #1
    dilermando is offline Member
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    Default cheap talk

    In the sentence below, what does "cheap talk" mean?

    President Bush, notably, has not engaged in cheap talk of appeasement and lack of patriotism.

  2. #2
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    paochai01 is offline Member
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    Default Re: cheap talk

    Quote Originally Posted by dilermando View Post
    In the sentence below, what does "cheap talk" mean?

    President Bush, notably, has not engaged in cheap talk of appeasement and lack of patriotism.
    It's a communication between players which does not directly affect the payoffs of the game.

    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.

  3. #3
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    beascarpetta is offline Key Member
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    Default Re: cheap talk

    Quote Originally Posted by dilermando View Post
    In the sentence below, what does "cheap talk" mean?

    President Bush, notably, has not engaged in cheap talk of appeasement and lack of patriotism.
    I'd say cheap in this sentence is synonymous with dishonest.
    President Bush didn't sugarcoat the issue of appeasement...




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