Cheap talk

Cheap Talk is a term used in Game Theory for pre-play communication which carries no cost. For example, in the Prisoner's Dilemma one might add a round of pre-play communication where each player announces the action they intend to take (or alternatively the action they would like the other to take). In the Prisoner's Dilemma cheap talk is not expected to have any effect (for an exception see Robson 1990). In other games Cheap Talk does have a demonstrated effect on play.