Class 5: Credibility and Reputation
Textbook reading: Kreps, Chapter 4, “Credibility and Reputation.” The subsection “What if Cheap Talk Is a Little Expensive?” is optional but is the basis of the third problem’s extension.
Textbook reading: Kreps, Chapter 4, “Credibility and Reputation.” The subsection “What if Cheap Talk Is a Little Expensive?” is optional but is the basis of the third problem’s extension.