Steiner, Jakub - Center for Economic Research and Graduate Education and … - 2006
encounter one of these projects, but have an outside option to search for another of the projects. Drawing on the global games … endogeneity of the outside option value and of the search activity leads to non-monotonicity of welfare with respect to search … exogenous parameters. In contrast to the “static” benchmark global game without a search option, successful coordination is …
