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Platform selection in the lab

Heggedal, Tom-Reiel; Helland, Leif
Journal article, Peer reviewed
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Heggedal_Helland_JEBO_2014.pdf (348.8Kb)
URI
http://hdl.handle.net/11250/93934
Date
2014
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  • Scientific articles [1722]
Original version
http://dx.doi.org/10.1016/j.jebo.2013.12.004
Abstract
Emerging literature explores experimental platform selection games. These games con-

verge rapidly on the superior platform under a wide range of conditions. We replicate the

remarkable results of Hossain and Morgan (2009) in which such a game tips almost perfectly

to the superior platform. Next, we show that platform coordination fails when seemingly

innocent increases in out-of-equilibrium payo¤s are introduced. The in ated payo¤s keep

the best reply structure unchanged and do not in uence players security levels. Our de-

sign allows control for the explanatory force of risk dominance. We nd that equilibrium

selection theory is unable to account for coordination failure while observed behavior is con-

sistent with non-rational learning. Furthermore, and contrary to the literature, we nd that

e¢ ciency su¤ers when an inferior platform is granted initial monopoly.
Description
This is the authors’ accepted and refereed manuscript to the article
Publisher
Elsevier
Journal
Journal of Economic Behavior and Organization

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