Peddling Influence through Intermediaries: Propaganda∗
نویسنده
چکیده
Information may be transmitted directly from a sender to a receiver, or indirectly through intermediaries. How do intermediaries affect the reporting truthfulness of an informed sender? When does he prefer using intermediaries? In this model, an objective sender or intermediary passes on information truthfully, while a biased one wants to push a particular agenda but also has reputational concerns. This paper shows that intermediaries reduce a biased sender’s reputation cost, but they also lessen his influence on the receiver. Biased agents’ truth-telling incentives are strategic complements, and each additional intermediary reduces everyone’s reporting truthfulness. If the sender’s existing reputation is sufficiently high and his signal sufficiently informative, ex ante, he prefers using intermediaries. If the sender has sufficiently low reputational concerns, he prefers direct communication. Moreover, a biased sender may prefer a less truthful intermediary to a more truthful one. JEL classification: C70, D72, D82, D83
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Peddling Influence through Well Informed Intermediaries∗
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