Efficient coordination in the lab
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Other documents of the author: García-Gallego, Aurora; Hernández-Rojas, Penélope; Rodrigo-González, Amalia
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Show full item recordcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
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Title
Efficient coordination in the labDate
2017-12Publisher
Springer-VerlagBibliographic citation
García-Gallego, A., Hernández-Rojas, P. & Rodrigo-González, A. J Econ Interact Coord (2017). https://doi.org/10.1007/s11403-017-0214-3Type
info:eu-repo/semantics/articlePublisher version
https://link.springer.com/article/10.1007/s11403-017-0214-3#Abs1Version
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Abstract
We follow the example of Gossner et al. (Econometrica 74(6):1603–1636, 2006) in the design of a finitely repeated 2-player coordination game with asymmetric information. Player 1 and Player 2 and Nature simultaneously ... [+]
We follow the example of Gossner et al. (Econometrica 74(6):1603–1636, 2006) in the design of a finitely repeated 2-player coordination game with asymmetric information. Player 1 and Player 2 and Nature simultaneously decide whether to play 0 or 1 and successful coordination requires that all actions coincide. Nature’s moves are known only by Player 1, while Player 2 observes only the history of Nature and Player 1. In such a theoretical set up, efficient transmission of information takes place when Player 1 uses block codification through signalling mistakes. With this in mind, we test coordination in the lab. We first model and establish the appropriate sequence length played by Nature and the block strategy for lab implementability. We show that the majority rule with 3-length is the optimal block codification for a 55-length sequence. Experimental data supports the main results of the original model with respect to the codification rule using signalling mistakes. [-]
Investigation project
Spanish Ministerio de Economía y Competitividad (Project ECO2015-68469-R) ; Universitat Jaume I (Project P1.15-1B2015-48) ; Spanish Ministerio de Economía y Competitividad (Project ECO2014-58297-R)Rights
© Springer-Verlag GmbH Germany, part of Springer Nature 2017
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