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conclude that it might be better to reduce the precision of public signals or entirely withhold information. This paper shows … that public information should always be provided with maximum precision, but under certain conditions not to all agents …
Persistent link: https://www.econbiz.de/10010366530
establish two results on the global game selection. First, we show that, for any supermodular complete information game, the …
Persistent link: https://www.econbiz.de/10011043014
Global games are widely used for equilibrium selection to predict behaviour in complete information games with … addition, we give an elementary proof that robustness to incomplete information implies noise independence. …
Persistent link: https://www.econbiz.de/10010270696
Global games are widely used for equilibrium selection to predict behaviour in complete information games with … players or actions. In addition, we give an elementary proof that robustness to incomplete information implies noise …
Persistent link: https://www.econbiz.de/10010272343
Global games are widely used for equilibrium selection to predict behaviour in complete information games with … addition, we give an elementary proof that robustness to incomplete information implies noise independence. …
Persistent link: https://www.econbiz.de/10008513139
. Whereas agents have a coordination motive to take the same position, at the social level effective market coordination per se … fundamental state. Some studies argue that it might be better to withhold public information because its potential to serve as a … focal point induces agents to exaggerate the importance of public announcements. This paper shows that public information …
Persistent link: https://www.econbiz.de/10010261100
. Whereas agents have a coordination motive to take the same position, at the social level effective market coordination per se … fundamental state. Some studies argue that it might be better to withhold public information because its potential to serve as a … focal point induces agents to exaggerate the importance of public announcements. This paper shows that public information …
Persistent link: https://www.econbiz.de/10005765918
conclude that it might be better to reduce the precision of public signals or entirely withhold information. This paper shows … that public information should always be provided with maximum precision, but under certain conditions not to all agents …
Persistent link: https://www.econbiz.de/10010334031
conclude that it might be better to reduce the precision of public signals or entirely withhold information. This paper shows … that public information should always be provided with maximum precision, but under certain conditions not to all agents …
Persistent link: https://www.econbiz.de/10005739690
We solve and test experimentally a global-games model of speculative attacks where agents can choose whether to read, at a cost, a payoff irrelevant (sunspot) announcement. Assuming that subjects exogenously believe some others to follow sunspots, we provide conditions for a unique equilibrium...
Persistent link: https://www.econbiz.de/10011976078