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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. Crawford, Vincent, 1998. "A Survey of Experiments on Communication via Cheap Talk," Journal of Economic Theory, Elsevier, vol. 78(2), pages 286-298, February.
  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. 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.
  4. 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.
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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," Documents de travail du Centre d'Economie de la Sorbonne 13011, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  2. repec:hal:cesptp:halshs-00611696 is not listed on IDEAS
  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. repec:hal:journl:halshs-00611696 is not listed on IDEAS
  5. repec:hal:wpaper:halshs-00635801 is not listed on IDEAS
  6. 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.
  7. 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.

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