Identifying the reasons for coordination failure in a laboratory experiment
Külpmann P, Khantadze D (2016) Center for Mathematical Economics Working Papers; 567.
Bielefeld: Center for Mathematical Economics.
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| Veröffentlicht | Englisch
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Abstract / Bemerkung
We investigate the effect of absence of common knowledge on the outcomes of
coordination games in a laboratory experiment. Using cognitive types, we can
explain coordination failure in pure coordination games while differentiating between
coordination failure due to first- and higher-order beliefs.
In our experiment, around 76% of the subjects have chosen the payoff-dominant
equilibrium strategy despite the absence of common knowledge. However, 9%
of the players had first-order beliefs that lead to coordination failure and another
9% exhibited coordination failure due to higher-order beliefs. Furthermore, we
compare our results with predictions of commonly used models of higher-order
beliefs.
Stichworte
Higher-order beliefs;
coordination failure;
cognitive abilities;
experimental economics;
game theory
Erscheinungsjahr
2016
Serientitel
Center for Mathematical Economics Working Papers
Band
567
Seite(n)
41
ISSN
0931-6558
Page URI
https://pub.uni-bielefeld.de/record/2905865
Zitieren
Külpmann P, Khantadze D. Identifying the reasons for coordination failure in a laboratory experiment. Center for Mathematical Economics Working Papers. Vol 567. Bielefeld: Center for Mathematical Economics; 2016.
Külpmann, P., & Khantadze, D. (2016). Identifying the reasons for coordination failure in a laboratory experiment (Center for Mathematical Economics Working Papers, 567). Bielefeld: Center for Mathematical Economics.
Külpmann, Philipp, and Khantadze, Davit. 2016. Identifying the reasons for coordination failure in a laboratory experiment. Vol. 567. Center for Mathematical Economics Working Papers. Bielefeld: Center for Mathematical Economics.
Külpmann, P., and Khantadze, D. (2016). Identifying the reasons for coordination failure in a laboratory experiment. Center for Mathematical Economics Working Papers, 567, Bielefeld: Center for Mathematical Economics.
Külpmann, P., & Khantadze, D., 2016. Identifying the reasons for coordination failure in a laboratory experiment, Center for Mathematical Economics Working Papers, no.567, Bielefeld: Center for Mathematical Economics.
P. Külpmann and D. Khantadze, Identifying the reasons for coordination failure in a laboratory experiment, Center for Mathematical Economics Working Papers, vol. 567, Bielefeld: Center for Mathematical Economics, 2016.
Külpmann, P., Khantadze, D.: Identifying the reasons for coordination failure in a laboratory experiment. Center for Mathematical Economics Working Papers, 567. Center for Mathematical Economics, Bielefeld (2016).
Külpmann, Philipp, and Khantadze, Davit. Identifying the reasons for coordination failure in a laboratory experiment. Bielefeld: Center for Mathematical Economics, 2016. Center for Mathematical Economics Working Papers. 567.
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