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An Experimental Study of Uncertainty in Coordination Games

Ioannou, Christos A., Makris, Miltiadis (2018) An Experimental Study of Uncertainty in Coordination Games. International Economic Review, . ISSN 0020-6598. E-ISSN 1468-2354. (doi:10.1111/iere.12367) (Access to this publication is currently restricted. You may be able to access a copy if URLs are provided)

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Abstract

Global games and Poisson games have been proposed to address equilibrium indeterminacy in Common Knowledge Coordination games. The present study investigates in a controlled setup, using as controls Common Knowledge games, whether idiosyncratic uncertainty about economic fundamentals (Global games) or uncertainty about the number of actual players (Poisson games) may influence subjects' behavior. We find that uncertainty about the number of actual players has more influence on subjects' behavior than idiosyncratic uncertainty about economic fundamentals. Furthermore, subjects' behavior under Poisson population?size uncertainty is closer to the respective theoretical prediction than subjects' behavior under idiosyncratic uncertainty about economic fundamentals.

Item Type: Article
DOI/Identification number: 10.1111/iere.12367
Uncontrolled keywords: Coordination games, population uncertainty, experiments
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Miltos Makris
Date Deposited: 15 Oct 2018 16:01 UTC
Last Modified: 03 Jul 2019 22:19 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/69581 (The current URI for this page, for reference purposes)
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