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The focal point in the Traveller’s Dilemma: An Experimental Study

Morone, Andrea and Morone, Piergiuseppe (2014): The focal point in the Traveller’s Dilemma: An Experimental Study.

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Abstract

This paper provides an experimental test of the traveller’s dilemma. Our investigation aims to address the research hypothesis that introducing a reference point à la Schelling (set equal to the Pareto optimal solution) might drive people away from rationality even when the size of the penalty/reward is high. Experimental findings reported in this paper provide answers to this question showing that the reference point did not encourage coordination around the Pareto optimal choice.

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