coordination device. The coordination power of sunspots has been analysed in theory and in experiments. However, some have … discussed whether sunspots, e.g., public announcements such as financial market ratings, can create coordination problems. That … forecast, trigger coordination problems? To answer that, we use a repeated three-player stag hunt game with fixed groups. In …

data. We argue that coordination problems and multiple equilibria are the keys to explaining inflation persistence. We …

impossible in finite games. Firstly, in coordination games, all players have the same preferences: switching to a weakly dominant … action. Secondly, the location of payoff-dominant equilibria behaves capriciously: two coordination games that look so much …