The focal point in the Traveller’s Dilemma: An Experimental Study

Andrea Morone and Piergiuseppe Morone ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper provides an experimental test of the traveller’s dilemma. Our investigation aims to address the research hypothesis that introducing a reference point à la Schelling (set equal to the Pareto optimal solution) might drive people away from rationality even when the size of the penalty/reward is high. Experimental findings reported in this paper provide answers to this question showing that the reference point did not encourage coordination around the Pareto optimal choice.

Keywords: traveller’s dilemma; focal point; individual decision (search for similar items in EconPapers)
JEL-codes: C9 D7 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-gth
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: THE FOCAL POINT IN THE TRAVELLER'S DILEMMA: AN EXPERIMENTAL STUDY (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:58071

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