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Is knowledge curse or blessing in pure coordination problems?

Chuah, S-H ORCID: 0000-0002-4562-1340, Hoffman, R and Larner, J 2019 , 'Is knowledge curse or blessing in pure coordination problems?' , Theory and Decision, vol. 87 , pp. 123-146 , doi: 10.1007/s11238-019-09692-w.

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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.

Item Type: Article
Authors/Creators:Chuah, S-H and Hoffman, R and Larner, J
Keywords: coordination, information, curse of knowledge, focal points, recognition
Journal or Publication Title: Theory and Decision
Publisher: Kluwer Academic Publ
ISSN: 0040-5833
DOI / ID Number: 10.1007/s11238-019-09692-w
Copyright Information:

Copyright 2019 Springer Science+Business Media, LLC, part of Springer Nature

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