We present an experiment in which extrinsic information (signals) may generate sunspot equilibria. The underlying … coordination game has a unique symmetric non-sunspot equilibrium, which is also risk-dominant. Other equilibria can be ordered … signals affect behavior. Sunspot equilibria emerge naturally if there are salient public signals. Highly correlated private …

the stochastic process generating these signals and measure how signals affect behavior. We find that sunspot equilibria … emerge naturally if there are salient public signals. However, highly correlated private signals can also lead to sunspot …-driven behavior, even when this is not an equilibrium. Private signals reduce the power of public signals as sunspot variables. The …

We present an experiment in which extrinsic signals may generate sunspot equilibria. The game has a unique symmetric … non-sunspot equilibrium, which is also risk dominant. Other equilibria can be ordered according to risk dominance. By … Sunspot equilibria emerge naturally, if there are salient (but extrinsic) public signals. However, salient private signals of …

We present an experiment in which extrinsic signals may generate sunspot equilibria. The game has a unique symmetric … non-sunspot equilibrium, which is also risk dominant. Other equilibria can be ordered according to risk dominance. By … Sunspot equilibria emerge naturally, if there are salient (but extrinsic) public signals. However, salient private signals of …

We present an experiment in which extrinsic information (signals) may generate sunspot equilibria. The underlying … coordination game has a unique symmetric non-sunspot equilibrium, which is also risk-dominant. Other equilibria can be ordered … signals affect behavior. Sunspot equilibria emerge naturally if there are salient public signals. Highly correlated private …

We present an experiment in which extrinsic information (signals) may generate sunspot equilibria. The underlying … coordination game has a unique symmetric non-sunspot equilibrium, which is also risk-dominant. Other equilibria can be ordered … (and possibly irrelevant) information. Results indicate that sunspot equilibria emerge naturally if there are salient (but …

We present an experiment in which extrinsic information (signals) may generate sunspot equilibria. The underlying … coordination game has a unique symmetric non-sunspot equilibrium, which is also risk-dominant. Other equilibria can be ordered … signals affect behavior. Sunspot equilibria emerge naturally if there are salient public signals. Highly correlated private …

We present an experiment in which extrinsic information (signals) may generate sunspot equilibria. The underlying … coordination game has a unique symmetric non-sunspot equilibrium, which is also risk-dominant. Other equilibria can be ordered … (and possibly irrelevant) information. Results indicate that sunspot equilibria emerge naturally if there are salient (but …

We present an experiment in which extrinsic information (signals) may generate sunspot equilibria. The underlying … coordination game has a unique symmetric non-sunspot equilibrium, which is also risk-dominant. Other equilibria can be ordered … signals affect behavior. Sunspot equilibria emerge naturally if there are salient public signals. Highly correlated private …