What Price Coordination? The Efficiency-enhancing Effect of Auctioning the Right to Play.

What Price Coordination? The Efficiency-enhancing Effect of Auctioning the Right to Play.

A model is proposed to explain the results of recent experiments in which subjects repeatedly played a coordination game, with the right to play auctioned each period in a larger group. Subjects bid the market-clearing price to a level recoverable only in the efficient equilibrium and then converged...

書誌詳細
主要な著者:	Crawford, V, Broseta, B
フォーマット:	Journal article
言語:	English
出版事項:	American Economic Association 1998

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