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  • D85  (4)
  • Life and Medical Sciences
  • 2015-2019  (4)
  • 1
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    Unknown
    Bonn: Institute of Labor Economics (IZA)
    Publication Date: 2019-09-04
    Description: The effectiveness of social interaction depends strongly on an ability to coordinate actions efficiently. In large networks, such coordination may be very difficult to achieve and may depend on the communication technology and the network structure. We examine how pre-play communication and clustering within networks affect coordination in a challenging experimental game on eight-person networks. Free-form chat is enormously effective in achieving the nonequilibrium efficient outcome in our game, but restricted communication (where subjects can only indicate their intended action) is almost entirely ineffective. We can rationalize this result with a novel model about the credibility of cheap-talk messages. This credibility is much larger with freeform message communication than with restricted communication. We are the first to model this credibility and show, both theoretically and experimentally, an interaction effect of network structure and communication technologies. We also provide a model of message diffusion, which indeed predicts that diffusion will be more rapid without clustering and is consistent with our data.
    Keywords: C71 ; C91 ; D03 ; D85 ; ddc:330 ; networks ; clustering ; communication ; credibility ; cheap talk ; experiment
    Language: English
    Type: doc-type:workingPaper
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  • 2
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    Unknown
    Basel: MDPI
    Publication Date: 2017-08-26
    Description: This paper considers a population of agents that are engaged in a listening network. The agents wish to match their actions to the true value of some uncertain (exogenous) parameter and to the actions of the other agents. Each agent begins with some initial information about the parameter and, in addition, is able to receive further information from their neighbors in the network. I derive a closed expression for the (interim) social welfare loss that depends on the initial information structure and on the possible pieces of information that can be gathered under the network. Then, I explore how changes in the network may affect social welfare for extreme levels of complementarity in the agents' actions. When the level of complementarity is very high, efficiency is achieved regardless of the network structure. For very low levels of complementarity in actions, efficiency can be either associated to more sparse or denser networks, depending on the size of the induced informative gains. The implications of this paper are relevant in security environments where agents are naturally interpreted as analysts who try to forecast the value of a parameter that describes a threat to security.
    Keywords: C72 ; D83 ; D84 ; D85 ; ddc:330 ; networks ; information aggregation ; beauty-contests ; strategic complementarity ; social welfare
    Language: English
    Type: doc-type:article
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  • 3
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    Unknown
    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2019-08-22
    Description: The effectiveness of social interaction depends strongly on an ability to coordinate actions efficiently. In large networks, such coordination may be very difficult to achieve and may depend on the communication technology and the network structure. We examine how pre-play communication and clustering within networks affect coordination in a challenging experimental game on eight-person networks. Free-form chat is enormously effective in achieving the non-equilibrium efficient outcome in our game, but restricted communication (where subjects can only indicate their intended action) is almost entirely ineffective. We can rationalize this result with a novel model about the credibility of cheap-talk messages. This credibility is much larger with freeform message communication than with restricted communication. We are the first to model this credibility and show, both theoretically and experimentally, an interaction effect of network structure and communication technologies. We also provide a model of message diffusion, which indeed predicts that diffusion will be more rapid without clustering and is consistent with our data.
    Keywords: C71 ; C91 ; D03 ; D85 ; ddc:330 ; networks ; clustering ; communication ; credibility ; cheap talk ; experiment
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
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  • 4
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    Unknown
    Bonn: Max Planck Institute for Research on Collective Goods
    Publication Date: 2020-05-19
    Description: The effectiveness of social interaction depends strongly on an ability to coordinate actions efficiently. In large networks, such coordination may be very difficult to achieve and may depend on the communication technology and the network structure. We examine how pre-play communication and clustering within networks affect coordination in a challenging experimental game on eight-person networks. Free-form chat is enormously effective in achieving the nonequilibrium efficient outcome in our game, but restricted communication (where subjects can only indicate their intended action) is almost entirely ineffective. We can rationalize this result with a novel model about the credibility of cheap-talk messages. This credibility is much larger with freeform message communication than with restricted communication. We are the first to model this credibility and show, both theoretically and experimentally, an interaction effect of network structure and communication technologies. We also provide a model of message diffusion, which indeed predicts that diffusion will be more rapid without clustering and is consistent with our data.
    Keywords: C71 ; C91 ; D03 ; D85 ; ddc:330 ; Networks ; Clustering ; Communication ; Credibility ; Cheap talk ; Experiment
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
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