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Tacit Coordination in Choice between Certain Outcomes in Endogenously Determined Lotteries

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  • Rapoport, Amnon
  • Seale, Darryl A
  • Ordonez, Lisa

Abstract

Tacit coordination is studied in a class of games in which each of n = 20 players is required to choose between two courses of actions. The first action offers each player a fixed outcome whereas the second presents her the opportunity of participating in a lottery with probabilities that are determined endogenously. Across multiple iterations of the game and trial-to-trial changes in the composition of the lottery, we observe a remarkably good coordination on the aggregate but not individual level. We further observe systematic deviations from the Nash equilibrium solution that are accounted for quite well by a simple adaptive learning model. Copyright 2002 by Kluwer Academic Publishers

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  • Rapoport, Amnon & Seale, Darryl A & Ordonez, Lisa, 2002. "Tacit Coordination in Choice between Certain Outcomes in Endogenously Determined Lotteries," Journal of Risk and Uncertainty, Springer, vol. 25(1), pages 21-45, July.
    • Handle: RePEc:kap:jrisku:v:25:y:2002:i:1:p:21-45
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    Cited by:

    1. Shafran, Aric P., 2012. "Learning in games with risky payoffs," Games and Economic Behavior, Elsevier, vol. 75(1), pages 354-371.

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