The power of sunspots: an experimental analysis
In an experiment using a coordination game with extrinsic random signals (“sunspots”), we systematically vary the stochastic process generating these signals and measure how signals affect behavior. We find that sunspot equilibria emerge naturally with salient public signals. However, highly correla...
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| Main Authors: | , , |
|---|---|
| Format: | Article (Journal) |
| Language: | English |
| Published: |
2019
|
| In: |
Journal of monetary economics
Year: 2018, Volume: 103, Pages: 123-136 |
| DOI: | 10.1016/j.jmoneco.2018.08.006 |
| Online Access: | Verlag, Volltext: https://doi.org/10.1016/j.jmoneco.2018.08.006 Verlag: http://www.sciencedirect.com/science/article/pii/S0304393218304896 
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| Author Notes: | Dietmar Fehr, Frank Heinemann, Aniol Llorente-Saguer |
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