The quality of the signal matters - A note on imperfect observability and the timing of moves

Experimental from University Library of Munich, Germany

Abstract: In a recent study Huck and Müller (1998) report that--in contrast to Bagwell's (1995) prediction--first movers in a simple experimental market do not lose their commitment power in the presence of noise. The present note shows that it is the quality of the signal and not the knowledge about the physical timing of moves that is responsible for these experimental results. Additionally, the findings reported here provide further evidence that the positional order protocol cannot induce non--equilibrium play.

Keywords: commitment; first-mover advantage; imperfect observability; positional order protocol; experimental economics (search for similar items in EconPapers)
JEL-codes: C9 (search for similar items in EconPapers)
Pages: 10 pages
Date: 1999-02-12
Note: Type of Document - PS; prepared on IBM PC; to print on PostScript; pages: 10 ; figures: included
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Related works:
Journal Article: The quality of the signal matters -- a note on imperfect observability and the timing of moves (2001)
Working Paper: The quality of the signal matters - A note on imperfect observability and the timing of moves (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpex:9902001

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