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This paper reports experimental tests of two alternative explanations of how players use focal points to select equilibria in one-shot coordination games. Cognitive hierarchy theory explains coordination as the result of common beliefs about players' pre-reflective inclinations towards the...
Persistent link: https://www.econbiz.de/10003790704
Experimental research has shown that ordinary people often perform remarkably well in solving coordination games that involve no conflicts of interest. While most experiments in the past studied such coordination games among socially distant anonymous players, here we study behaviour in a set of...
Persistent link: https://www.econbiz.de/10012704757