Creating Expectational Assets in the Laboratory: Coordination in ‘Weakest‐Link’ Games
作者:
Marc Knez,
Colin Camerer,
期刊:
Strategic Management Journal
(WILEY Available online 1994)
卷期:
Volume 15,
issue S1
页码: 101-119
ISSN:0143-2095
年代: 1994
DOI:10.1002/smj.4250150908
出版商: John Wiley&Sons, Ltd.
关键词: Coordination;experimental economics;resource‐based view;group norms
数据来源: WILEY
摘要:
AbstractWe study coordination games with multiple equilibria, in which players are penalized for picking numbers higher than the minimum anybody picks, and everyone prefers a larger minimum. ‘Weakest‐link games like this model organizational situations in which the worst component of a product or process determines its overall quality. In experimental groups, the best equilibrium was reached infrequently. Aggregating two groups into a larger one always hurt. We argue that players’ beliefs about what the minimum will be are an ‘expectational asset’ (or liability) which is socially complex, linking organization‐level behavior and the resource‐based vie
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