This article provides a practical overview for applying the global games approach to solve models with multiple equilibria that are often used in discussions on fi- nancial and macroprudential policies. Global games offer a tractable approach to resolve multiple equilibria by introducing...

In a laboratory experiment, we study the role of fairness ideals as focal points in coordination problems in homogeneous and heterogeneous groups. We elicit the normatively preferred behavior about how a subsequent coordination game should be played. In homogeneous groups, people share a unique...

In a laboratory experiment, we study the role of fairness ideals as focal points in coordination problems in homogeneous and heterogeneous groups. We elicit the normatively preferred behavior about how a subsequent coordination game should be played. In homogeneous groups, people share a unique...

We set up an experiment to test whether players use a payoff-irrelevant public message (BLUE or RED) as a possible sunspot to coordinate in a Battle of the Sexes game in which the strategies are labelled X and Y. We find that players do not play a sunspot equilibrium, instead learn to coordinate...

One of the key pillars of the European single market is undoubtedly the free movement of persons. From the earliest days of the European Economic Community (EEC), it was recognised that genuinely free movement required addressing the social security rights of mobile citizens. In order to...

This report, covers the following matters: 1) the steps taken throughout the year to prevent and combat fraud and error in cases determined under the coordination rules; 2) specific problems in implementing the coordination rules which may lead at least to risks of fraud and error;3) agreements...

Background: The adoption of artificial intelligence (AI) in humanitarian logistics is essential for improving coordination and decision making, especially in the challenging landscape of disaster-relief settings. However, the current literature offers limited empirical evidence with respect to...

This paper analyzes the mechanisms by which Stoic ethics can produce coordination. We study how agents satisfying the Stoic discipline of desires (that is, one should wish for nothing that is out of control, including other players'acts) behave in 2-player simultaneous symmetric coordination...

Liberalisation and decarbonisation have transformed energy system coordination from internal engineering to a complex economic and digital challenge. Liberalisation replaced vertically integrated utilities with fragmented interactions among transmission operators, distribution operators,...

Background: Logistics and transport, core of many business processes, are continuously optimized to improve efficiency and market competitiveness. The paper describes a modular coordination of vehicle routing and bin packing problems that enables independent instances of the problems to be...

Using a sample of listed Chinese firms from 2007 to 2020, we investigate the governance implications of cross-ownership in corporate bond markets. We find that cross-ownership significantly reduces bond issuance spreads, suggesting that synergistic governance effects outweigh potential collusion...

I endogenize the probability of self‐fulfilling outcomes in a game where the only uncertainty comes from extrinsic sunspots. There is a group of players wishing to coordinate on the same action and another player-the regime defender-whose action affects the payoff from coordination. The...

We study static binary coordination games with random utility played on networks. In equilibrium, each agent chooses an action only if a fraction of her neighbors choosing the same action is higher than an agent‐specific i.i.d. threshold. A fuzzy convention x is a profile where (almost) all...

We study flexible public information design in global games. In addition to receiving public information from the designer, agents are endowed with exogenous private information and must decide between two actions (invest and not invest), the profitability of which depends on unknown...

This report first provides an overview of selected issues related to the coordination of social security systems within the EU. After discussing the principles of social security coordination, the following aspects are reviewed: the existing issues and available data on social security...

This report first provides an overview of selected issues related to the coordination of social security systems within the EU. After discussing the principles of social security coordination, the following aspects are reviewed: the existing issues and available data on social security...

Experiment participants in a social dilemma game choose cooperation over defection, even though neither is more beneficial. High levels of cooperation cannot be explained by favorable labels for actions, collusion, k-level reasoning, quantal response behavior, or misplaced optimism about others'...

We study the role of purpose-based rules for behavior and outcomes in a threshold public good game. Rules can be sufficient or even inflated in terms of proposing a fulfilling behavior. We conduct a lab experiment to describe the implications caused by the inflation of a rule. Our study shows...

Objective: The purpose of this article is to examine the quality of remote primary healthcare in Poland measured through three dimensions: coordination, comprehensiveness, and continuity (3Cs) and examine the relationship between them. Research Design & Methods: The 3Cs were measured using a...

Purpose - This paper aims to examine the interconnectedness between stakeholder expectations (SE), inter- organizational coordination (IOC) and procurement practices within humanitarian organizations (HOs) based in Uganda. Design/methodology/approach - Employing a quantitative cross-sectional...

The current method used by the US Government to calculate benefits and costs does not accurately measure the monetary value of some regulations. The problem is that the method fails to recognize the possibility that individual valuations, reflecting judgments in a relatively isolated,...