Repetition and signalling: experimental evidence from games with efficient equilibria |
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Authors: | Kenneth Clark Martin Sefton |
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Abstract: | We report experiments where subjects generally fail to attain the efficient equilibrium of a one-shot game, but attain the efficient equilibrium of the repeated version. The results suggest that in the repeated game actions are used to signal future intentions. |
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Keywords: | Experimental games Coordination Repetition Signaling |
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