Autore
Acocella, Nicola

Titolo
Announcement wars as an equilibrium selection device
Periodico
Università degli Studi di Roma "La Sapienza" - Dipartimento di Studi Geoeconomici, Linguistici, Statistici e Storici per l'Analisi regionale. Working papers
Anno: 2009 - Fascicolo: 64 - Pagina iniziale: 1 - Pagina finale: 19

This paper attempts to give a rationale to public announcements, so often observed in the real world, and to formalize the idea that they can be used as a form of equilibrium selection device when multiple equilibria arise. Moreover, il also shows how announcements solve the problems of coordination failures as predicted by the empiricalliterature based on experimental studies.




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