fundamentals, we show that a coordination failure in the first market reduces investors' wealth, which makes them more likely to …

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 …

higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination. …

We study communication in a two-player coordination game with Pareto-ranked equilibria. Prior research demonstrates … that efficient coordination is difficult without communication but obtains regularly with (mandatory) costless pre … communication. Consistent with the introspective character of GW-FI, the fraction of players who achieve efficient coordination by …

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 …

higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination …

solve coordination problems from past coordination success or failure. -- coordination ; precedent ; costly communication …Precedents can facilitate successful coordination within groups by reducing strategic uncertainty, but they may lead to … coordination failure when two groups with diverging precedents have to interact. This paper describes an experiment to explore how …

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 …

talk is one-way as the truthful reports facilitate desired coordination. …

obligatory. We compare coordination failure with efficient rationing as well as with compulsory serving of demand, and … losses. Our experimental results show that (possible) coordination failure affects behavior through two channels: via … anticipating losses but decrease after experiencing losses. Coordination failures are more probable after subjects experienced a …