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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/10011761639
type-coordination property: it fully coordinates on the ex-post efficient pure Nash equilibrium when the players' types are … different. Type-coordination is also obtained in a partially revealing equilibrium in which only the High-type is not truthful …
Persistent link: https://www.econbiz.de/10011317848
model of communication in games and investigate the importance of when communication takes place. Sending a message before … are believed whenever possible. Applying our results to Aumann's Stag Hunt game we find that communication is useless if …
Persistent link: https://www.econbiz.de/10010200432
Costless and non-binding pre-play communication (cheap talk) has been found to often be effective in achieving … uncertainty in the framework of a 2x2 coordination game, in which one choice leads to the same payoff regardless of the action of … the other person's play. Cheap talk is found to be effective, as there is much more coordination in both Signal treatments …
Persistent link: https://www.econbiz.de/10014122582
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
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Persistent link: https://www.econbiz.de/10014512267
Using experimental methods, this paper investigates the limits of communication and leadership in aiding group … coordination in a minimum effort game. Choosing the highest effort is the payoff dominant Nash equilibrium in this game, and … communication and leadership are expected to help in coordinating on such an equilibrium. We consider an environment in which the …
Persistent link: https://www.econbiz.de/10011318403
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