Finding the key:The riddle of focal points

Sugden, R. and Zamarron Hernandez, Ignacio (2006) Finding the key:The riddle of focal points. Journal of Economic Psychology, 27 (5). pp. 609-621. ISSN 0167-4870

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Schelling's concept of a focal point is widely understood and used in game theory, but is often thought to lack adequate theoretical foundations; Schelling's own account is viewed as metaphorical and mysterious. We reconstruct that account and argue that it contains a sound theory of how rational players solve coordination problems. However, the philosophical framework which supports Schelling's theory is not a deductive system of the kind presupposed by classical game theory but a pragmatic one.

Item Type: Article
Uncontrolled Keywords: focal point,coordination game
Faculty \ School: Faculty of Social Sciences > School of Economics
Faculty of Arts and Humanities > School of Philosophy
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Depositing User: Pure Connector
Date Deposited: 19 Nov 2013 16:15
Last Modified: 24 Oct 2022 05:05
DOI: 10.1016/j.joep.2006.04.003

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