Showing 1 - 10 of 8,102
The paper analyzes the role of the structure of communication - i.e. who is talking with whom - on the choice of … messages, on their credibility and on actual play. We run an experiment in a three-player coordination game with Pareto ranked … analysis of credibility, the subjects should communicate and play the Pareto optimal equilibrium only when communication is …
Persistent link: https://www.econbiz.de/10010418867
This study experimentally investigates the role of two-sided cheap talk in decisions under asymmetric information. Unlike previous studies, our study also considers endogenous investment timing. In our experiments, subjects play two-player global games with asymmetric information. Before making...
Persistent link: https://www.econbiz.de/10012849211
coordination and distribution of coordinated outcomes across networks. But, increasing the communication length improves both … efficiency and equity of coordination. In all treatments, coordination is mostly explained by convergence in communication. We …We study experimentally how the network structure and length of pre-play communication affect behavior and outcome in a …
Persistent link: https://www.econbiz.de/10014200671
We implement a repeated version of the Barro-Gordon monetary policy game in the laboratory and ask whether reputation serves as a substitute for commitment, enabling the central bank to achieve the efficient Ramsey equilibrium and avoid the inefficient, time-inconsistent one-shot Nash...
Persistent link: https://www.econbiz.de/10011572114
Persistent link: https://www.econbiz.de/10012299399
In games with strategic complementarities, public information about the state of the world has a larger impact on equilibrium actions than private information of the same precision, because the former is more informative about the likely behavior of others. This may lead to welfare-reducing...
Persistent link: https://www.econbiz.de/10009787097
While it has become clear that communication is a monetary policy tool for central banks, and extensive research has … been conducted on central bank communication with financial markets, little is known so far on central bank communication … European Central Bank (ECB) and on understanding of its communication about the Pandemic Emergency Purchase Programme, which …
Persistent link: https://www.econbiz.de/10014342276
experiment, while coordination failures emerge in the following periods sweeping away the beneficial effect of communication at … others creating socially suboptimal outcomes. We investigate if and how communication mitigates the strategic delay in … introducing communication into this setting reduces strategic delay. We implement our model in a laboratory experiment utilizing a …
Persistent link: https://www.econbiz.de/10013375345
Persistent link: https://www.econbiz.de/10012319251
Persistent link: https://www.econbiz.de/10012599919