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We show by example that communication can cause common knowledge acquisition to fail. In the absence of communication, agents acquire approximate common knowledge of some parameter, but with communication they do not.
Persistent link: https://www.econbiz.de/10005369103
We study learning in a large class of complete information normal form games. Players continually face new strategic situations and must form beliefs by extrapolation from similar past situations. We characterize the long-run outcomes of learning in terms of iterated dominance in a related...
Persistent link: https://www.econbiz.de/10005147107
We study how the presence of multiple participation opportunities coupled with individual learning about payoff affects the ability of agents to coordinate efficiently in global coordination games. Two players face the option to invest irreversibly in a project in one of many rounds. The project...
Persistent link: https://www.econbiz.de/10005750752