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http://hdl.handle.net/10419/49663
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| Title: | | Explaining focal points: Cognitive hierarchy theory versus team reasoning  |
| Authors: | | Bardsley, Nicholas Mehta, Judith Starmer, Chris Sugden, Robert |
| Issue Date: | | 2008 |
| Series/Report no.: | | CeDEx discussion paper series 2008-17 |
| Abstract: | | This paper reports experimental tests of two alternative explanations of how players use focal points to select equilibria in one-shot coordination games. Cognitive hierarchy theory explains coordination as the result of common beliefs about players' pre-reflective inclinations towards the relevant strategies; the theory of team reasoning explains it as the result of the players' using a non-standard form of reasoning. We report two experiments. One finds strong support for team reasoning; the other supports cognitive hierarchy theory. In the light of additional questionnaire evidence, we conclude that players' reasoning is sensitive to the decision context. |
| Subjects: | | salience focal point cognitive hierarchy team reasoning |
| JEL: | | C72 C92 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CeDEx Discussion Paper Series, The University of Nottingham
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