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http://ssrn.com/abstract=1764272
 
 

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Patience, Cognitive Skill and Coordination in the Repeated Stag Hunt


Omar Al-Ubaydli


George Mason University - Department of Economics

Garett Jones


George Mason University - Department of Economics

Jaap Weel


George Mason University - Department of Economics

January 19, 2011

GMU Working Paper in Economics No. 11-11

Abstract:     
Coordination games have become a critical tool of analysis in fields such as development and institutional economics. Understanding behavior in coordination games is an important step towards understanding the differing success of teams, firms and nations. This paper investigates the relationship between personal attributes (cognitive ability, risk-aversion, patience) and behavior and outcomes in coordination games, an issue that, to the best of our knowledge, has never been studied before. For the repeated coordination game that we consider, we find that: (1) cognitive ability has no bearing on any aspect of behavior or outcomes; (2) pairs of players who are more patient are more likely to coordinate well and earn higher payoffs; and (3) risk-aversion has no bearing on any aspect of behavior or outcomes. These results are robust to controlling for personality traits and demographic characteristics.

Number of Pages in PDF File: 40

Keywords: Coordination, IQ, Personality, Discount Rate, Patience, Risk-Aversion

JEL Classification: D02, D23, O12, O43

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Date posted: February 19, 2011  

Suggested Citation

Al-Ubaydli, Omar and Jones, Garett and Weel, Jaap, Patience, Cognitive Skill and Coordination in the Repeated Stag Hunt (January 19, 2011). GMU Working Paper in Economics No. 11-11. Available at SSRN: http://ssrn.com/abstract=1764272 or http://dx.doi.org/10.2139/ssrn.1764272

Contact Information

Omar Al-Ubaydli (Contact Author)
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
703-993-4538 (Phone)
703-993-1133 (Fax)
Garett Jones
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
Jaap Weel
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
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