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decentralized coordination mechanism for equilibriumexpectations, facilitated by local interactions between agents. Interactions are … corresponds to a sunspot-free coordination state, convergence to a convex mixture of invariant measures engenders a sunspot … explains how coordination of expectations is actually achieved through direct interactions between agents. Any particular …
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Tuning one's shower in some hotels may turn into a challenging coordination game with imperfect information. The …
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This paper analyzes the effect of the availability of information about the payoff structure on the behavior of players in a Common-Pool Resource game. Six groups of six individuals played a complete information game, while other six groups played the same game but with no information about the...
Persistent link: https://www.econbiz.de/10004968350
Two subjects have to repeatedly choose between two alternatives, A and B, where payoffs of an A or B-choice depend on the choices made by both players in a number of previous choices. Locally, alternative A gives always more payoff than alternative B. However, in terms of overall payoffs...
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