Coordination in a changing environment

Matros, Alexander and Moser, Scott (2015) Coordination in a changing environment. Journal of Economic Behavior and Organization, 112. pp. 64-84. ISSN 0167-2681

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In this article we consider a model where boundedly rational agents choose both which coordination game to play and what action to take in that game, when their information and mobility are limited and changes over time. We completely characterize both short-run and long-run outcomes. There are multiple types of short-run predictions in which agents may be at different locations, taking different actions. In the long-run, however, all agents are at the same location and take the same action in that game. The long-run prediction is unique and globally efficient most of the time.

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Journal Article
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Journal of Economic Behavior and Organization
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21 Oct 2015 05:05
Last Modified:
18 Sep 2023 00:55