Secret Messages Boost Decision-Making Accuracy and Welfare in Global Games
The study looked at how talking for free can help people make better decisions when they don't have all the information. In the experiments, players sent messages to each other before deciding what to do. They found that players usually sent messages that matched their own secret information. Players also did better when they could see the other player's choice before making their own. The data showed that players often used specific strategies based on their own information and the messages they received. Overall, talking for free helped players do well in the game.