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- W2121162797 abstract "Agents at the beginning of a dynamic coordination process (1) are uncertain about actions of their fellow players and (2) anticipate receiving strategically relevant information later on in the process. In such environments, the (ir)reversibility of early actions plays an important role in the choice among them. We characterize the strategic eects of the reversibility option on the coordination outcome. Such an option can either enhance or hamper ecient coordination, and we determine the direction of the eect based only on simple features of the coordination problem. The analysis is based on a generalization of the Laplacian property known from static global games: players at the beginning of a dynamic game act as if they were entirely uninformed about aggregate play of fellow players in each stage of the coordination process." @default.
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- W2121162797 date "2013-01-01" @default.
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- W2121162797 title "Reversibility in dynamic coordination problems" @default.
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- W2121162797 doi "https://doi.org/10.1016/j.geb.2012.10.014" @default.
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