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Learning, words and actions : experimental evidence on coordination-improving information

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Abstract

This paper reports experimental results from a one-shot game with two Nash equilibria : the first one is efficient, the second one relies on weakly dominated strategies. The experimental treatments consider three information-enhancing mechanisms in the game : simple repetition, cheap-talk messages and observation of past actions from the current interaction partner. Our experimental results show the use of dominated strategies is quite widespread. Any kind of information (through learning, words or actions) increases efficiency. As regards coordination, we find that good history performs better than good messages ; but bad history performs worse than bad messages.

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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2010/10064.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 10064.

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Length: 19 pages
Date of creation: Jul 2010
Date of revision:
Handle: RePEc:mse:cesdoc:10064

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Keywords: Coordination game; communication; cheap-talk; observation.;

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  1. Nicolas Jacquemet & Adam Zylbersztejn, 2011. "What drives failure to maximize payoffs in the lab ? A test of the inequality aversion hypothesis," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00611696, HAL.
  2. John Duffy & Nick Feltovich, 2006. "Words, Deeds, and Lies: Strategic Behaviour in Games with Multiple Signals," Review of Economic Studies, Oxford University Press, vol. 73(3), pages 669-688.
  3. A. Colin Cameron & Jonah B. Gelbach & Douglas L. Miller, 2007. "Bootstrap-Based Improvements for Inference with Clustered Errors," NBER Technical Working Papers 0344, National Bureau of Economic Research, Inc.
  4. repec:hal:journl:halshs-00611696 is not listed on IDEAS
  5. Duffy, John & Feltovich, Nick, 2002. "Do Actions Speak Louder Than Words? An Experimental Comparison of Observation and Cheap Talk," Games and Economic Behavior, Elsevier, vol. 39(1), pages 1-27, April.
  6. Bochet, Olivier & Page, Talbot & Putterman, Louis, 2006. "Communication and punishment in voluntary contribution experiments," Journal of Economic Behavior & Organization, Elsevier, vol. 60(1), pages 11-26, May.
  7. Charness, Gary B & Dufwenberg, Martin, 2008. "Broken Promises: An Experiment," University of California at Santa Barbara, Economics Working Paper Series qt6836m74q, Department of Economics, UC Santa Barbara.
  8. Crawford, Vincent, 1998. "A Survey of Experiments on Communication via Cheap Talk," Journal of Economic Theory, Elsevier, vol. 78(2), pages 286-298, February.
  9. Joseph Farrell & Matthew Rabin, 1996. "Cheap Talk," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 103-118, Summer.
  10. Bracht, Juergen & Feltovich, Nick, 2009. "Whatever you say, your reputation precedes you: Observation and cheap talk in the trust game," Journal of Public Economics, Elsevier, vol. 93(9-10), pages 1036-1044, October.
  11. Beard, T Randolph & Beil, Richard O, Jr & Mataga, Yoshiharu, 2001. "Reliant Behavior in the United States and Japan," Economic Inquiry, Western Economic Association International, vol. 39(2), pages 270-79, April.
  12. Jeffrey M. Wooldridge, 2003. "Cluster-Sample Methods in Applied Econometrics," American Economic Review, American Economic Association, vol. 93(2), pages 133-138, May.
  13. T. Randolph Beard & Richard O. Beil, 1994. "Do People Rely on the Self-Interested Maximization of Others? An Experimental Test," Management Science, INFORMS, vol. 40(2), pages 252-262, February.
  14. Rosenthal, Robert W., 1981. "Games of perfect information, predatory pricing and the chain-store paradox," Journal of Economic Theory, Elsevier, vol. 25(1), pages 92-100, August.
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Cited by:
  1. Adam Zylbersztejn, 2013. "Strategic signaling or emotional sanctioning? An experimental study of ex post communication in a repeated public goods game," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00800587, HAL.
  2. Nobuyuki Hanaki & Nicolas Jacquemet & Stéphane Luchini & Adam Zylbersztejn, 2013. "Bounded Rationality and Strategic Uncertainty in a Simple Dominance Solvable Game," Economics Discussion / Working Papers 13-14, The University of Western Australia, Department of Economics.
  3. Nicolas Jacquemet & Adam Zylbersztejn, 2011. "What drives failure to maximize payoffs in the lab? A test of the inequality aversion hypothesis," Documents de travail du Centre d'Economie de la Sorbonne 11036, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  4. Nicolas Jacquemet & Stephane Luchini & Jason Shogren & Adam Zylbersztejn, 2011. "Coordination with Communication under Oath," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00635801, HAL.
  5. Adam Zylbersztejn, 2013. "Strategic signaling or emotional sanctioning? An experimental study of ex post communication in a repeated public goods game," Documents de travail du Centre d'Economie de la Sorbonne 13011, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  6. repec:hal:journl:halshs-00611696 is not listed on IDEAS
  7. Nicolas Jacquemet & Stephane Luchini & Jason Shogren & Adam Zylbersztejn, 2011. "Coordination with Communication under Oath," Working Papers halshs-00635801, HAL.

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