Exchange-rate Attack as a Coordination Game: Theory and Experimental Evidence
比较了协调博弈的理论预测与实验室实验观察，发现公共信息并未如理论预测那样导致经济不稳定，反而提高了效率和协调性。
This paper compares theoretical predictions for a coordination game, used to explain the onset of a currency crisis, with observations from laboratory experiments. Theories that assume full rationality suggest that public information may destabilize an economy by creating self-fulfilling belief equilibria, while private information leads to a unique equilibrium. In experiments, differences in behaviour for these two kinds of information are small. Public information increases efficiency and coordination among players, and there is no evidence for destabilizing effects owing to self-fulfilling beliefs. Copyright 2002, Oxford University Press.