In this article, we explore the concept of mediation in information transmission games, and how it can benefit both parties involved. We extend the notion of value of mediation, as introduced by Ashlagi, Monderer, and Tennenholtz [5], to provide a more comprehensive understanding of the benefits of mediation. Our goal is to help readers understand the importance of mediation in contrast to unmediated communication, and how it can lead to more efficient and effective information transmission.
Section 1: Definition of Mediation and Its Benefits
Mediation is like a facilitator in a conversation, helping parties reach an agreement through active engagement. Unlike cheap talk, where parties communicate in isolation, mediation provides a platform for parties to share information and work towards a mutually beneficial outcome. By using mediation, parties can benefit from increased efficiency, accuracy, and trust in their communication.
Section 2: Different Definitions of Value of Mediation
There are different notions of value of mediation in the literature, each with its unique perspective. For instance, Salamanca [27] defines the value of mediation as the maximum utility that the sender can get in a mediated equilibrium, while Corrao and Dai [12] define it as the difference between the maximum utility in a mediated equilibrium and the maximum utility in a (one round) cheap talk equilibrium. Understanding these different definitions is essential to appreciate the complexity of mediation and its potential benefits.
Section 3: Comparison with Cheap Talk
Cheap talk refers to communication between parties without any mediator or arbitrator. In contrast, mediation provides an intermediary to facilitate communication and help parties reach an agreement. By comparing mediation with cheap talk, we can better understand the advantages of mediation and why it is valuable in information transmission games.
Section 4: Resilient Information Aggregation
Arieli, Geffner, and Tennenholtz [4] introduce the concept of resilient information aggregation, which highlights the importance of mediation in ensuring accurate communication. They show how mediation can help parties overcome potential biases and reach a more accurate consensus. By understanding this concept, we can appreciate the critical role that mediation plays in information transmission.
Section 5: Conclusion
In conclusion, mediation is a valuable tool in information transmission games, providing numerous benefits over unmediated communication. By using mediation, parties can improve the efficiency and accuracy of their communication, leading to better outcomes in both theory and practice. Understanding the different notions of value of mediation and comparing them with cheap talk helps demystify complex concepts and appreciate the importance of mediation in information transmission games.
