Is knowledge curse or blessing in pure coordination problems?
Swee-Hoon Chuah (),
Robert Hoffmann () and
Jeremy Larner ()
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Swee-Hoon Chuah: RMIT University
Robert Hoffmann: RMIT University
Jeremy Larner: Nottingham University Business School
Theory and Decision, 2019, vol. 87, issue 1, 123-146
Abstract Does greater knowledge help or hinder one’s ability to coordinate with others? While individual expertise can reveal a suitable focal point to converge on, ‘blissful’ ignorance may systematically bias decisions towards it through mere recognition. Our experiment finds in favour of the former possibility. Both specific and general knowledge are significantly associated with success in four of five coordination problems as well as over all. Our analysis suggests that more knowledgeable participants are better able to identify focal decision alternatives because (1) they are aware of more such alternatives and (2) possess more relevant information about each.
Keywords: Coordination; Information; Curse of knowledge; Focal points; Recognition (search for similar items in EconPapers)
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