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Simple Coordination Games

Simple Coordination Games

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Published by lanny_arvan
Some example of simple coordination games are given to show the outcome will not always be Pareto Optimal. Macroeconomics can display such coordination failures.
Some example of simple coordination games are given to show the outcome will not always be Pareto Optimal. Macroeconomics can display such coordination failures.

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Categories:Types, Business/Law
Published by: lanny_arvan on Jun 01, 2012
Copyright:Attribution Non-commercial

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09/06/2013

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Simple Coordination GamesAs Metaphor
A way to understand that macro-econ isnot just decision theory. Cures to macroissues must acknowledge this.
 
Some Non-Cooperative Games Will BePresented to Illustrate The Issues
This means that each player chooses astrategy without knowing what the otherplayer will do. That must be guessed.
 
Non-Cooperative Equilibria(John Nash)
Each player chooses a strategy and has anexpectation of what the other player will do.In equilibrium, play and expectations concur.

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