Is knowledge curse or blessing in pure coordination problems?

Chuah, S, Hoffmann, J and Larner, J 2019, 'Is knowledge curse or blessing in pure coordination problems?', Theory and Decision, vol. 87, no. 1, pp. 123-146.

Document type: Journal Article
Collection: Journal Articles

Title Is knowledge curse or blessing in pure coordination problems?
Author(s) Chuah, S
Hoffmann, J
Larner, J
Year 2019
Journal name Theory and Decision
Volume number 87
Issue number 1
Start page 123
End page 146
Total pages 24
Publisher Springer
Abstract Does greater knowledge help or hinder one's ability to coordinate with others? While individual expertise can reveal a suitable focal point to converge on, 'blissful' ignorance may systematically bias decisions towards it through mere recognition. Our experiment finds in favour of the former possibility. Both specific and general knowledge are significantly associated with success in four of five coordination problems as well as over all. Our analysis suggests that more knowledgeable participants are better able to identify focal decision alternatives because (1) they are aware of more such alternatives and (2) possess more relevant information about each.
Subject Experimental Economics
Keyword(s) Coordination
Curse of knowledge
Focal points
DOI - identifier 10.1007/s11238-019-09692-w
Copyright notice © Springer Science+Business Media, LLC, part of Springer Nature 2019
ISSN 0040-5833
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