Explaining focal points: Cognitive hierarchy theory versus team reasoning

Research, Preprint English OPEN
Bardsley, Nicholas; Mehta, Judith; Starmer, Chris; Sugden, Robert;
  • Publisher: Nottingham: The University of Nottingham, Centre for Decision Research and Experimental Economics (CeDEx)
  • Subject: salience | team reasoning | Kognition | salience, focal point, cognitive hierarchy, team reasoning | Spieltheorie | cognitive hierarchy | C92 | C72 | focal point
    • jel: jel:C92 | jel:C72
      ddc: ddc:330

This paper reports experimental tests of two alternative explanations of how players use focal points to select equilibria in one-shot coordination games. Cognitive hierarchy theory explains coordination as the result of common beliefs about players’ pre-reflective incl... View more
  • References (1)

    Bacharach, Michael (1993). Variable universe games. In Ken Binmore et al. (eds.) Frontiers of Game Theory. Cambridge, MA: MIT Press.

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