Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Coordination in a changing environment
AU - Matros, Alexander
AU - Moser, Scott
PY - 2015/4
Y1 - 2015/4
N2 - 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.
AB - 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.
KW - Stochastic stability
KW - Networks
KW - Coordination
KW - Mobile agents
U2 - 10.1016/j.jebo.2014.12.026
DO - 10.1016/j.jebo.2014.12.026
M3 - Journal article
VL - 112
SP - 64
EP - 84
JO - Journal of Economic Behavior and Organization
JF - Journal of Economic Behavior and Organization
SN - 0167-2681
ER -