Dynamic Competitive Persuasion
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Publication:6310374
Abstract: Two long-lived players play a dynamic game of competitive persuasion. Each period, each provides information to a single short-lived receiver. When the players also set prices, we unearth a folk theorem: if they are sufficiently patient, virtually any vector of feasible and individually rational payoffs can be sustained in a subgame perfect equilibrium. Without price-setting, there is a unique subgame perfect equilibrium. In it, patient players provide less information--maximally patient ones none.
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