agents' coordination motive and the negative correlation of their private information causes their reports to become …

agents' coordination motive and the negative correlation of their private information causes their reports to become …

We study information acquisition in a coordination game with incomplete information. To capture the idea that players … their welfare and are rationally inattentive to other aspects. When coordination is valuable and information is cheap …, endogenous and flexible information acquisition enable players to acquire information that makes efficient coordination possible …

equilibrium in symmetric (2 x 2) coordination games. Because the need to coordinate exposes players to strategic risk, we treat …

coordination game. In any symmetric equilibrium, players choose to over-estimate the precision of their information. Players …

This paper studies the interaction between coordination and social learning in a dynamic regime change game. Social … learning provides public information, to which players overreact due to the coordination motive. Coordination affects the … herding disappears, and thus coordination is almost surely successful …