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information and subsequent payoffs from the game. We find that the players are overall truthful about their types in the cheap-talk … phase in both one-way and two-way talk. Furthermore, the unique symmetric cheap-talk equilibrium in the two-way cheap talk … talk is one-way as the truthful reports facilitate desired coordination. …
Persistent link: https://www.econbiz.de/10012429976
their types in the cheap-talk phase in both one-way or two-way talk. Furthermore, the unique symmetric cheap-talk … higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination. …
Persistent link: https://www.econbiz.de/10011777646
We study communication in a two-player coordination game with Pareto-ranked equilibria. Prior research demonstrates … that efficient coordination is difficult without communication but obtains regularly with (mandatory) costless pre … communication. Consistent with the introspective character of GW-FI, the fraction of players who achieve efficient coordination by …
Persistent link: https://www.econbiz.de/10011282459
coordination problems. We conduct experiments under various conditions which control for salient labeling and learning dynamics …. Contrary to previous experiments, we find that coordination on non-empty Strict Nash equilibria is not an easy task for … significantly helps coordination, but only when subjects are pre-instructed to think of the wheel network as a reasonable way to …
Persistent link: https://www.econbiz.de/10010312592
We run a laboratory experiment with a two-person game with unique pure Nash equilibrium which is also the solution of the iterative elimination of strictly dominated strategies. The subjects are asked to commit to a device that randomly picks one of three symmetric outcomes in this game...
Persistent link: https://www.econbiz.de/10012429983
Coordination games have multiple equilibria under complete information. However, recent theoretical advances show that …
Persistent link: https://www.econbiz.de/10013208880
We examine communication in a two-player coordination game with Pareto-ranked equilibria. Prior research demonstrates … that efficient coordination is difficult without communication but obtains regularly with (mandatory) costless pre … costs, explicit communication may be unnecessary for efficient coordination; instead, players simply need to know that the …
Persistent link: https://www.econbiz.de/10010316867
Unfavorable news are often delivered under the disguise of vagueness. Our theory-driven laboratory experiment investigates this strategic use of vagueness in voluntary disclosure and asks whether there is scope for policy to improve information transmission. We find that vagueness is profitably...
Persistent link: https://www.econbiz.de/10013197544
other hand the decision makers rely too much on the received information. Moreover, communication as well as payoffs … communication is less biased. In all treatments, however, the messages are more precise than theoretically predicted. …
Persistent link: https://www.econbiz.de/10010369309
round of the game. Beyond improving coordination, communication increases efficiency by making subjects' play more lenient …Case studies of cartels and recent theory suggest that repeated communication is key for stable cooperation in … environments where signals about others' actions are noisy. However, empirically the exact role of communication is not well …
Persistent link: https://www.econbiz.de/10011931862