The persistance of "bad" precedents and the need for communication: A coordination experiment
Abstract
Precedents can facilitate successful coordination within groups by reducing strategic uncertainty, but they may lead to coordination failure when two groups with diverging precedents have to interact. This paper describes an experiment to explore how such coordination failure can be mitigated and whether subjects are aware of it. In an initial phase, groups were able to establish a precedent in a repeated weakest-link game, and in a second phase...
Paper Details
Title
The persistance of "bad" precedents and the need for communication: A coordination experiment
Published Date
Jun 1, 2011
Journal
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