haku: @indexterm SOCIAL CHOICE / yhteensä: 20
viite: 8 / 20
| Tekijä: | Goyal, S. Janssen, M. C. W. |
| Otsikko: | Non-exclusive conventions and social coordination. |
| Lehti: | Journal of Economic Theory
1997 : NOV, VOL. 77:1, p. 34-57 |
| Asiasana: | CHOICE THEORY GAME THEORY DECISION THEORY SOCIAL CHOICE PARETO LAW |
| Kieli: | eng |
| Tiivistelmä: | The authors study the long run outcome when communities with different conventions interact. They introduce the notion of non-exclusive conventions to model the idea that, by incurring some additional costs, agents can remain flexible and hence coordinate their activities more successfully. They also show that if these costs of flexibility are low (high) and interaction is local then the Pareto-efficient (risk-dominant) convention prevails in both communities. At intermediate cost levels, the conventions coexist. At last they show that the importance of relative size of the two communities varies across interaction structures. |
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