When envy helps explain coordination
AbstractThis paper identifies a class of symmetric coordination games in which the presence of envious people helps players to coordinate on a particular strict Nash equilibrium. In these games, the selected equilibrium is always risk-dominant. We also find that envious preferences are evolutionary stable when they lead to Pareto-efficiency.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 3 (2005)
Issue (Month): 12 ()
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Envy Coordination games Risk-dominance Evolutionary stability;
Find related papers by JEL classification:
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D6 - Microeconomics - - Welfare Economics
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