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

Author

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  • Ananish Chaudhuri
  • Andrew Schotter
  • Barry Sopher

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.

Suggested Citation

  • Ananish Chaudhuri & Andrew Schotter & Barry Sopher, 2009. "Talking Ourselves to Efficiency: Coordination in Inter-Generational Minimum Effort Games with Private, Almost Common and Common Knowledge of Advice," Economic Journal, Royal Economic Society, vol. 119(534), pages 91-122, January.
    • Handle: RePEc:ecj:econjl:v:119:y:2009:i:534:p:91-122
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