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|
|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/|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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," 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, 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.
- 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.
- Gary E. Bolton & Elena Katok & Axel Ockenfels, 2004.
"How Effective Are Electronic Reputation Mechanisms? An Experimental Investigation,"
INFORMS, vol. 50(11), pages 1587-1602, November.
- Gary E. Bolton & Elena Katok & Axel Ockenfels, 2003. "How Effective are Electronic Reputation Mechanisms? An Experimental Investigation," Working Paper Series in Economics 3, University of Cologne, Department of Economics.
- 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.
- Crawford, Vincent, 1998. "A Survey of Experiments on Communication via Cheap Talk," Journal of Economic Theory, Elsevier, vol. 78(2), pages 286-298, February.
- Gregory M. Parkhurst & Jason F. Shogren & Chris Bastian, 2004. "Repetition, Communication, and Coordination Failure," Experimental Economics, Springer;Economic Science Association, vol. 7(2), pages 141-152, 06.
- 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.
- Rick L. Williams, 2000. "A Note on Robust Variance Estimation for Cluster-Correlated Data," Biometrics, The International Biometric Society, vol. 56(2), pages 645-646, 06.
When requesting a correction, please mention this item's handle: RePEc:hal:cesptp:halshs-00505164. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If references are entirely missing, you can add them using this form.