Information-driven coordination: experimental results with heteregeneous individuals
Résumé
The authors study experimentally a coordination game with N heterogeneous individuals under different information treatments. They explore the effects of information on the emergence of Pareto-efficient outcomes, by means of a gradual decrease of the information content provided to the players in successive experiments. They observe that successful coordination is possible with private information alone, although not on a Pareto-optimal equilibrium. Reinforcement-based learning models reproduce the qualitative trends of the experimental results.