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Common and almost common knowledge of credible assignments in a coordination game

  • Ananish Chaudhuri


    (Department of Economics, University of Auckland)

  • Chenan Zhou


    (Department of Accounting and Finance, University of Auckland)

  • Parapin Prak


    (Department of Economics, University of Auckland)

  • Laura Bangun


    (Department of Economics, University of Auckland)

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    We build on Van Huyck, Gillette and Battalio (1992) and examine the efficacy of credible assignments in a stag-hunt type coordination game with two Pareto-ranked equilibria, one payoff dominant and the other risk dominant. The majority of our subjects fail to coordinate to the payoff dominant outcome when no assignment is made. However, the majority of them always coordinate to the payoff dominant outcome when an assignment is made. This happens regardless of whether the assignment is “almost common knowledge” or “common knowledge”.

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    Article provided by AccessEcon in its journal Economics Bulletin.

    Volume (Year): 3 (2006)
    Issue (Month): 1 ()
    Pages: 1-10

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    Handle: RePEc:ebl:ecbull:eb-05c90025
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    1. Cooper, Russell, et al, 1992. "Communication in Coordination Games," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 739-71, May.
    2. Rubinstein, Ariel, 1989. "The Electronic Mail Game: Strategic Behavior under "Almost Common Knowledge."," American Economic Review, American Economic Association, vol. 79(3), pages 385-91, June.
    3. Rydval, Ondrej & Ortmann, Andreas, 2005. "Loss avoidance as selection principle: Evidence from simple stag-hunt games," Economics Letters, Elsevier, vol. 88(1), pages 101-107, July.
    4. Cooper, Russell, et al, 1990. "Selection Criteria in Coordination Games: Some Experimental Results," American Economic Review, American Economic Association, vol. 80(1), pages 218-33, March.
    5. Van Huyck, John B & Battalio, Raymond C & Beil, Richard O, 1990. "Tacit Coordination Games, Strategic Uncertainty, and Coordination Failure," American Economic Review, American Economic Association, vol. 80(1), pages 234-48, March.
    6. Van Huyck, John B. & Gillette, Ann B. & Battalio, Raymond C., 1992. "Credible assignments in coordination games," Games and Economic Behavior, Elsevier, vol. 4(4), pages 606-626, October.
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