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Talking Ourselves to Efficiency: Coordination in Inter-Generational Minimum Effort Games with Private, Almost Common and Common Knowledge of Advice

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Author Info
Ananish Chaudhuri
Andrew Schotter
Barry Sopher

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Abstract

We use experiments to investigate the use of advice as a coordinating device in the 'Minimum Effort Game' which is a coordination game with weak strategic complementarities and Pareto-ranked equilibria. The game is played by non-overlapping generations of players who, after they are done, pass on advice to their successors who take their place in the game. We conjectured that this inter-generational design might enable subjects to converge to the payoff-dominant outcome. We find that coordination is most likely to result when the advice is made public and also distributed in a manner that makes it common knowledge. Copyright © The Author(s). Journal compilation © Royal Economic Society 2009.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0297.2008.02207.x
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Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 119 (2009)
Issue (Month): 534 (01)
Pages: 91-122
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Handle: RePEc:ecj:econjl:v:119:y:2009:i:534:p:91-122

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  1. Giovanna Devetag & Andreas Ortmann, 2007. "When and why? A critical survey on coordination failure in the laboratory," Experimental Economics, Springer, vol. 10(3), pages 331-344, September. [Downloadable!] (restricted)
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  2. Quazi Shahriar & Subhasish Dugar, 2009. "Focal Points and Economic Efficiency: Role of Relative Label Salience," Working Papers 0033, San Diego State University, Department of Economics. [Downloadable!]
  3. Luca Anderlini & Dino Gerardi & Roger Lagunoff, 2007. "Social Memory and Evidence from the Past," Working Papers gueconwpa~07-07-01, Georgetown University, Department of Economics. [Downloadable!]
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This page was last updated on 2009-11-12.

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