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-talk communication raises efficiency in bilateral contracting situations with adverse selection. We replicate their finding and check its … robustness by introducing competition between agents. We find that communication and competition act as "substitutes …:" communication raises efficiency in the absence of competition but lowers efficiency with competition, and competition raises …
Persistent link: https://www.econbiz.de/10013106477
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Costless pre-play communication has been shown to effectively facilitate within-group coordination. However, in … costly efforts. We find that allowing within-group communication makes groups compete more aggressively. When only one group …. However, the communicating group earns payoffs that are not different from the baseline contest without any communication …
Persistent link: https://www.econbiz.de/10011145376
equally in groups of optimal size and there is no communication. The assignment of individuals to groups as either strangers … or partners does not significantly affect this outcome. In this paper we investigate whether communication changes these … results. Communication reduces shirking, increases aggregate effort and reduces aggregate rents, but only when communication …
Persistent link: https://www.econbiz.de/10008625834
It is still an open question when groups perform better than individuals in intellectual tasks. We report that in a company takeover experiment, groups placed better bids than individuals and substantially reduced the winner’s curse. This improvement was mostly due to peer pressure over the...
Persistent link: https://www.econbiz.de/10008642477
equally in groups of optimal size and there is no communication. In this paper we investigate the impact of introducing … communication groups that may or may not be linked to output sharing groups. Communication reduces shirking, increases aggregate … effort and reduces aggregate rents, but only when communication groups and output-sharing groups are linked. The effect is …
Persistent link: https://www.econbiz.de/10008642483
equally in groups of optimal size and there is no communication. In this paper we investigate the impact of introducing … communication in groups that may or may not be linked to output sharing groups. Communication reduces shirking, increases aggregate … effort and reduces aggregate rents, but only when communication groups and output-sharing groups are linked. The effect is …
Persistent link: https://www.econbiz.de/10008642748
among three players. The baseline treatment with no communication shows that the first and second players send significant … amounts and the third player reciprocates. Allowing insider communication between the second and the third players increases … cooperation between these two. Interestingly, there is an external effect of insider communication: the first player who is …
Persistent link: https://www.econbiz.de/10010817432
among three players. The baseline treatment with no communication shows that the first and second players send significant … amounts and the third player reciprocates. Allowing insider communication between the second and the third players increases … cooperation between these two. Interestingly, there is an external effect of insider communication: the first player who is …
Persistent link: https://www.econbiz.de/10011113806