Learning, words and actions : experimental evidence on coordination-improving information
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.
|Date of creation:||Jul 2010|
|Date of revision:|
|Publication status:||Published in Documents de travail du Centre d'Economie de la Sorbonne 2010.64 - ISSN : 1955-611X. 2010|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00505164|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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- 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.
- Nicolas Jacquemet & Adam Zylbersztejn, 2014. "What drives failure to maximize payoffs in the lab? A test of the inequality aversion hypothesis," Review of Economic Design, Springer;Society for Economic Design, vol. 18(4), pages 243-264, December.
- Nicolas Jacquemet & Adam Zylbersztejn, 2011. "What drives failure to maximize payoffs in the lab ? A test of the inequality aversion hypothesis," PSE - Labex "OSE-Ouvrir la Science Economique" halshs-00611696, HAL.
- Nicolas Jacquemet & Adam Zylbersztejn, 2014. "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-01026080, HAL.
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- 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.
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