Step thinking and costly coordination

Fatas, E. and Morales, A.J. (2013) Step thinking and costly coordination. Economics Letters, 120 (2). pp. 181-183. ISSN 0165-1765

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Abstract

Using the experimental sessions of Goeree and Holt (2005), we show that step thinking fits the long-run outcome of minimum-effort and median-effort games surprisingly well for all values of the cost parameter. In the latter, the predicted discontinuous behaviour of step thinking accommodates the bimodal pattern observed for the intermediate values of the cost parameter quite well.

Item Type: Article
Uncontrolled Keywords: experiments,step thinking,coordination games
Faculty \ School: Faculty of Social Sciences > School of Economics
University of East Anglia > Faculty of Social Sciences > Research Groups > Applied and Financial Economics
University of East Anglia > Faculty of Social Sciences > Research Groups > Experimental Economics
University of East Anglia > Faculty of Social Sciences > Research Groups > Industrial Economics
University of East Anglia > Faculty of Social Sciences > Research Groups > Behavioural and Experimental Economics
Faculty of Social Sciences > Norwich Business School
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Depositing User: Pure Connector
Date Deposited: 15 Nov 2013 14:16
Last Modified: 25 Jul 2018 08:51
URI: https://ueaeprints.uea.ac.uk/id/eprint/44433
DOI: 10.1016/j.econlet.2013.03.032

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