CREATING EXPECTATIONAL ASSETS IN THE LABORATORY - COORDINATION IN WEAKEST-LINK GAMES
CREATING EXPECTATIONAL ASSETS IN THE LABORATORY - COORDINATION IN WEAKEST-LINK GAMES
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DOI:
10.1002/smj.4250150908
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发表时间:
1994-12-01
影响因子:
8.3
通讯作者:
CAMERER, C
中科院分区:
文献类型:
--
作者:
KNEZ, M;CAMERER, C
We study coordination games with multiple equilibria, in which players are penalized for picking numbers higher than the minimum anybody picks, and everyone prefers a larger minimum. 'Weakest-link' games like this model organizational situations in which the worst component of a product or process determines its overall quality. In experimental groups, the best equilibrium was reached infrequently. Aggregating two groups into a larger one always hurt. We argue that players' beliefs about what the minimum will be are an 'expectational asset' (or liability) which is socially complex, linking organization-level behavior and the resource-based view of the firm.