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Stochastic strategy adjustment in coordination games

✍ Scribed by Michael Kosfeld


Publisher
Springer
Year
2002
Tongue
English
Weight
152 KB
Volume
20
Category
Article
ISSN
0938-2259

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This paper studies the question whether there are nondictatorial procedures for collective decision making which ensure that collective decisions are Pareto-efficient if all agents choose strategies that are not weakly dominated. It is shown that contrary to what one might expect the answer is not e