private provision of public goods. We examine whether reciprocity can resolve the associated coordination problem. The …

contrast, uncertainty about the catastrophic threshold typically causes coordination to collapse. Whether the probability …

. Whereas agents have a coordination motive to take the same position, at the social level effective market coordination per se …

Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how … property of a signalling equilibrium to overcome credibility problems in information provision. In addition we point out …

data. The motivation for signalling is consistent with wanting to control inflation expectations, but not career concerns …

of unverifiable information and the quality of communication depends on the conflict of interests between the government …

shock and a discretionary buyer transfer. In the absence of communication, we find that rigid contracts are more frequent … and lead to higher earnings for both buyer and seller. By contrast, in the presence of communication, flexible contracts … considerably more from flexible with communication than rigid without communication. Our results show quite strongly that …