This paper examines the abilities of standard game-theoretic solution concepts (static Nash equilibrium) and a simple model of individual learning to describe subject behavior in an experiment involving private-information games with mixed-strategy Nash equilibrium outcomes. The experimental data ar
Leadership and information in a single-shot collective action game: An experimental study
โ Scribed by Mana Komai; Philip J. Grossman; Travis Deters
- Publisher
- John Wiley and Sons
- Year
- 2010
- Tongue
- English
- Weight
- 201 KB
- Volume
- 32
- Category
- Article
- ISSN
- 0143-6570
- DOI
- 10.1002/mde.1522
No coin nor oath required. For personal study only.
โฆ Synopsis
We consider a leader-follower mechanism in a collective action game, which exhibits both free riding and coordination problems. Leaders can persuade group cooperation by making a costly commitment to a project. Followers can choose to follow their leaders. The project's return can be transparent to all or only to the leaders. We show experimentally that when free riding is the dominant strategy of an informed subject, concentrating information in the hands of the leaders improves cooperation more effectively than a regime of information dispersal. The coordination problem, however, may be reduced more effectively in a regime of information dispersal.
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