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Focal points and payoff information in tacit bargaining
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Isoni, Andrea, Poulsen, Anders, Sugden, Robert and Tsutsui, Kei (2019) Focal points and payoff information in tacit bargaining. Games and Economic Behavior, 114 . pp. 193-214. doi:10.1016/j.geb.2019.01.008 ISSN 0899-8256.
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Official URL: https://doi.org/10.1016/j.geb.2019.01.008
Abstract
Schelling proposed that payoff-irrelevant cues can affect the outcome of tacit bargaining games by creating focal points. Tests of this hypothesis have found that conflicts of interest between players inhibit focal-point reasoning. We investigate experimentally whether this effect is reduced if players have imperfect information about each other's payoffs. When players know only their own payoffs, they fail to ignore this information even though it cannot assist coordination; the effects of payoff-irrelevant cues on coordination success are small. When no exact information about payoffs is provided, payoff-irrelevant cues are more helpful, but not as much as when conflict is absent.
| Item Type: | Journal Article | |||||||||
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| Subjects: | H Social Sciences > HB Economic Theory | |||||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Game theory | |||||||||
| Journal or Publication Title: | Games and Economic Behavior | |||||||||
| Publisher: | Elsevier | |||||||||
| ISSN: | 0899-8256 | |||||||||
| Official Date: | March 2019 | |||||||||
| Dates: |
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| Volume: | 114 | |||||||||
| Page Range: | pp. 193-214 | |||||||||
| DOI: | 10.1016/j.geb.2019.01.008 | |||||||||
| Status: | Peer Reviewed | |||||||||
| Publication Status: | Published | |||||||||
| Access rights to Published version: | Open Access (Creative Commons) | |||||||||
| Date of first compliant deposit: | 30 January 2019 | |||||||||
| Date of first compliant Open Access: | 1 February 2019 | |||||||||
| RIOXX Funder/Project Grant: |
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