The quality of the signal matters -- a note on imperfect observability and the timing of moves
AbstractIn a recent study Huck and MÃ¼ller (1998) report that--in contrast to Bagwell's (1995) prediction--first movers in a simple experimental market do not lose their commitment power in the presence of noise. The present note shows that it is the quality of the signal and not the knowledge about the physical timing of moves that is responsible for these experimental results. Additionally, the findings reported here provide further evidence that the positional order protocol cannot induce non--equilibrium play.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 45 (2001)
Issue (Month): 1 (May)
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Web page: http://www.elsevier.com/locate/jebo
Other versions of this item:
- Wieland Müller, 1999. "The quality of the signal matters - A note on imperfect observability and the timing of moves," Experimental 9902001, EconWPA.
- W. Müller, 1999. "The quality of the signal matters - A note on imperfect observability and the timing of moves," SFB 373 Discussion Papers 1999,17, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- C9 - Mathematical and Quantitative Methods - - Design of Experiments
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- Güth, W. & Müller, W. & Spiegel, Y., 2006.
"Noisy leadership: An experimental approach,"
Open Access publications from Tilburg University
urn:nbn:nl:ui:12-193643, Tilburg University.
- Hildenbrand, Andreas, 2010. "Cournot or Stackelberg competition? A survey on experimental evidence," MPRA Paper 24468, University Library of Munich, Germany.
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