00000nam 2200000zi 4500 9.889525 CaOODSP 20221107172318 m o d f cr |n||||||||| 200720t20202020oncd ob f000 0 eng d CaOODSP eng rda CaOODSP n-cn--- FB3-5/2020-30E-PDF Arifovic, Jasmina, 1959- author. Ten isn’t large! Group size and coordination in a large-scale experiment / by Jasmina Arifovic, Cars Hommes, Anita Kopányi-Peuker and Isabelle Salle. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2020. ©2020 1 online resource (ii, 67 pages) : graphs. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2020-30 Cover title. "Last updated: July 6, 2020." Includes bibliographical references (pages 46-49). "This paper provides experimental evidence on coordination within genuinely large groupsthat could proxy the atomistic nature of real-world markets and organizations. We use abank-run game where the two pure-strategy equilibria “run” and “wait” can be ranked bypayoff and risk-dominance and a random sequence of public announcements introducesstochastic sunspot equilibria. We find systematic group size differences that theory fails topredict. In the presence of strategic uncertainty, the behavior of small groups is uninformative of behavior in large groups: in contrast to groups of 10, large groups only coordinate on the safest but Pareto-inferior “run” strategy and never coordinate on sunspots. Our results entail a series of theoretical and experimental implications"--Abstract, page ii. Equilibrium (Economics) Simulation games. Équilibre (Économie politique) Jeux de simulation. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2020-30. (CaOODSP)9.806221 PDF 2.16 MB https://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-30-eng.pdf