Learning, Words and Actions: Experimental Evidence on Coordination-Improving Information

Date: 2013-07
By: Nicolas Jacquemet (EEP-PSE – Ecole d’Économie de Paris – Paris School of Economics – Ecole d’Économie de Paris, BETA – Bureau d’économie théorique et appliquée – CNRS : UMR7522 – Université de Strasbourg – Université Nancy II)
Adam Zylbersztejn (EEP-PSE – Ecole d’Économie de Paris – Paris School of Economics – Ecole d’Économie de Paris, CES – Centre d’économie de la Sorbonne – CNRS : UMR8174 – Université Paris I – Panthéon-Sorbonne)
URL: http://d.repec.org/n?u=RePEc:hal:journl:halshs-00845123&r=net
We experimentally study an asymmetric coordination game with two Nash equilibria: one is Pareto-efficient, the other is Pareto-inefficient and involves a weakly dominated strategy. We assess whether information about the interaction partner helps eliminate the imperfect equilibrium. Our treatments involve three information-enhancing mechanisms: repetition and two kinds of individual signals: messages from partner or observation of his past choices. Repetition-based learning increases the frequencies of the most efficient outcome and the most costly strategic mismatch. Moreover, it is superseded by individual signals. Like previous empirical studies, we find that signals provide a screening of partners’ intentions that reduces the frequency of coordination failures. Unlike these studies, we find that the transmission of information between partners, either via messages or observation, does not suffice to significantly increase the overall efficiency of outcomes. This happens mostly because information does not restrain the choice of the dominated action by senders.
Keywords: coordination game; communication; cheap-talk; observation
廣告

發表迴響

在下方填入你的資料或按右方圖示以社群網站登入:

WordPress.com 標誌

您的留言將使用 WordPress.com 帳號。 登出 /  變更 )

Google photo

您的留言將使用 Google 帳號。 登出 /  變更 )

Twitter picture

您的留言將使用 Twitter 帳號。 登出 /  變更 )

Facebook照片

您的留言將使用 Facebook 帳號。 登出 /  變更 )

連結到 %s