Tacit Coordination in Choice between Certain Outcomes in Endogenously Determined Lotteries

Amnon Rapoport, Darryl A Seale and Lisa Ordonez

Journal of Risk and Uncertainty, 2002, vol. 25, issue 1, 45 pages

Abstract: Tacit coordination is studied in a class of games in which each of n = 20 players is required to choose between two courses of actions. The first action offers each player a fixed outcome whereas the second presents her the opportunity of participating in a lottery with probabilities that are determined endogenously. Across multiple iterations of the game and trial-to-trial changes in the composition of the lottery, we observe a remarkably good coordination on the aggregate but not individual level. We further observe systematic deviations from the Nash equilibrium solution that are accounted for quite well by a simple adaptive learning model. Copyright 2002 by Kluwer Academic Publishers

Date: 2002
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