Information revelation through signalling

This paper studies a Stackelberg game wherein sender (leader) attempts to shape the information of less informed receiver (follower) who in turn takes an action that determines payoff for both players. The chooses signals maximize its own utility function while aims ascertain value source is privately known sender. It well such sender–receiver games admit vast number equilibria and not all from can be relied on as truthful. Our main contribution exact characterization minimum distinct symbols correctly recovered by any equilibrium this game; we call quantity informativeness We show given vertex clique cover certain graph induced function, whereby it computed based alone without need enumerate equilibria. find characterizes existence well-known classes separating, pooling semi-separating also compare with amount obtained when leader always greater than latter, implying better off being follower. Additionally, players play behavioural strategies, may exist.