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Abstract
We propose a method to identify the ranking of focal points (Schelling, 1960) on the individual level. By contrast to conventional coordination, where subjects bet on only one alternative, subjects coordinate by the distribution of points. This allows them to invest in multiple alternatives and to weigh their choices. As a result, subjects not only reveal which alternative appears most focal to them, but the ranking of the available alternatives with regard to the degree of focality. In an experiment on the elicitation of social norms (Krupka and Weber, 2013), we compare the proposed mechanism with conventional coordination. The data confirms the theoretical predictions regarding coordination behavior and demonstrates that the proposed technique is suited to identify the heterogeneity of focal points on the individual level. Moreover, using Monte Carlo simulations, we find that the proposed mechanism identifies focal points on the group level significantly more efficiently than ordinary coordination. Finally, we point to the possibility to use the mechanism as a simple and direct tool to measure the degree of strategic uncertainty on the individual level.
Dokumententyp: | Arbeitspapier |
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Name der Reihe: | Discussion Paper Series / University of Heidelberg, Department of Economics |
Band: | 0660 |
Ort der Veröffentlichung: | Heidelberg |
Erstellungsdatum: | 27 Mrz. 2019 12:27 |
Erscheinungsjahr: | März 2019 |
Seitenanzahl: | 13 |
Institute/Einrichtungen: | Fakultät für Wirtschafts- und Sozialwissenschaften > Alfred-Weber Institut |
DDC-Sachgruppe: | 330 Wirtschaft |
Freie Schlagwörter: | coordination, focal points, game theory, methodology, social norms |
Schriftenreihe: | Discussion Paper Series / University of Heidelberg, Department of Economics |
Verfügbare Versionen dieser Veröffentlichung
- Identifying the Ranking of Focal Points in Coordination Games on the Individual Level. (deposited 27 Mrz. 2019 12:27) [momentan angezeigt]