Coordination problems in theorizing: a reply to de Jonge
Article Abstract:
A counter argument was presented with regards to J.P.R. de Jonge's comment on an article entitled 'Conventions and institutions in coordination problems'. The first argument deals with de Jonge's contention involving the article's stand on the taxonomy of games, which de Jonge called as conflicting. Such contention was perceived to be invalid since the terminology used in the article was a product of surveys on existing literature involving the game theory. The second argument deals with de Jonge's contention involving the article's presentation on the development of conventions.
Publication Name: De Economist
Subject: Economics
ISSN: 0013-063X
Year: 1998
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Coordination and cooperation in game theory
Article Abstract:
Fieke van der Lecq's article entitled 'Conventions and institutions in coordination problems' proved to be misleading with regards to its claim involving games classification, conventions development and institutional individualism. In terms of games classification, Lecq's article presented two conflicting definitions of coordination problem. The author failed to identify a second problem as a cooperation problem and instead treated the two problems as coordination problems.
Publication Name: De Economist
Subject: Economics
ISSN: 0013-063X
Year: 1998
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Conventions and institutions in coordination problems
Article Abstract:
A game-theory interpretation of coordination problems that occur in an economy in cases of multiple equilibria is discussed. Norms, such as institutions and conventions, are identified as ways of coping with coordination problems. With an analysis of three types of games where the degree of coordination versus conflict differs, the study showed that game-theoric strategies for equilibrium selection or for securing the highest pay-off outcome are not always enough.
Publication Name: De Economist
Subject: Economics
ISSN: 0013-063X
Year: 1996
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