Ambiguity and perceived coordination in a global game |
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Authors: | Daniel Laskar |
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Affiliation: | Paris School of Economics-CNRS (UMR 8545), Paris, France |
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Abstract: | In a global game, larger ambiguity is shown to decrease the amount of coordination each player perceives. Consequently, small uncertainty tends to select the Pareto dominated equilibrium of the game without uncertainty. Implications for models of financial crises are drawn. |
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Keywords: | C72 D81 D82 G01 |
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