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Games with multiple Nash equilibria are believed to be easier to play if players can communicate. We present a simple model of communication in games and investigate the importance of when communication takes place. Sending a message before play captures talk about intentions, after play...
Persistent link: https://www.econbiz.de/10011140987
×2 games. One-way communication weakly increases coordination on Nash equilibrium outcomes, although average payoffs sometimes … of symmetric 2×2 games, we find that communication facilitates coordination in common interest games with positive … spillovers and strategic complementarities, but there are also games in which any type of communication hampers coordination. …
Persistent link: https://www.econbiz.de/10005771174
multi-player coordination game with conflicting preferences. Network structure matters but the interaction between network … coordination and distribution of coordinated outcomes across networks. But increasing the communication length improves both … efficiency an equity of coordination. In all treatments, coordination is mostly explained by convergence in communication. We …
Persistent link: https://www.econbiz.de/10008587475
messages, on their credibility and on actual play. We run an experiment in a three-player coordination game with Pareto ranked …
Persistent link: https://www.econbiz.de/10010937981
messages, on their credibility and on actual play. We run an experiment in a three-player coordination game with Pareto ranked …
Persistent link: https://www.econbiz.de/10011277296
We show that essentially every communication equilibrium of any finite Bayesian game with two players can be implemented as a strategic form correlated equilibrium of an extended game, in which before choosing actions as in the Bayesian game, the players engage in a possibly fin nitely long (but...
Persistent link: https://www.econbiz.de/10010708889
range of prior probability of the High-Type. This equilibrium has a desirable type-coordination property: it fully … coordinates on the ex-post efficient pure Nash equilbrium when the players' types are different. Type-coordination is also …
Persistent link: https://www.econbiz.de/10010818179
coordination property. Such coordination can also be obtained as a partially revealing cheap talk equilibrium. These outcomes can …
Persistent link: https://www.econbiz.de/10010818189
This paper provides a formal analysis on the investment coordination problem in a vertically separated electricity … decisions of network and power plants need to be coordinated. In unbundled markets, firm-internal coordination no longer applies …. We develop a formal approach to examine whether simple information exchange (“cheap talk”) could restore coordination. We …
Persistent link: https://www.econbiz.de/10010533565
Numerous papers show how game theory can improve our understanding of literature. There is no paper, however, using experimental economics to arrive at a new understanding of a play. We fill this gap by using experimental evidence to compare the last two versions of Molière's Tartuffe. In the...
Persistent link: https://www.econbiz.de/10010636229