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The evolution of focal points

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  • Binmore, Ken
  • Samuelson, Larry
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    File URL: http://www.sciencedirect.com/science/article/B6WFW-4G1PKN5-5/2/f4d259c50d01051e44ac07c09ceee694
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    Bibliographic Info

    Article provided by Elsevier in its journal Games and Economic Behavior.

    Volume (Year): 55 (2006)
    Issue (Month): 1 (April)
    Pages: 21-42

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    Handle: RePEc:eee:gamebe:v:55:y:2006:i:1:p:21-42

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    Web page: http://www.elsevier.com/locate/inca/622836

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    References

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    1. Binmore, Ken & Samuelson, Larry, 1997. "Muddling Through: Noisy Equilibrium Selection," Journal of Economic Theory, Elsevier, Elsevier, vol. 74(2), pages 235-265, June.
    2. Sugden, Robert, 1995. "A Theory of Focal Points," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 105(430), pages 533-50, May.
    3. Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, Econometric Society, vol. 61(1), pages 29-56, January.
    4. Crawford, Vincent P & Haller, Hans, 1990. "Learning How to Cooperate: Optimal Play in Repeated Coordination Games," Econometrica, Econometric Society, Econometric Society, vol. 58(3), pages 571-95, May.
    5. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, Econometric Society, vol. 61(1), pages 57-84, January.
    6. Bacharach, Michael & Stahl, Dale O., 2000. "Variable-Frame Level-n Theory," Games and Economic Behavior, Elsevier, Elsevier, vol. 32(2), pages 220-246, August.
    7. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, December.
    8. Samuelson Larry, 1994. "Stochastic Stability in Games with Alternative Best Replies," Journal of Economic Theory, Elsevier, Elsevier, vol. 64(1), pages 35-65, October.
    9. Arthur J Robson & Fernando Vega-Redondo, 1999. "Efficient Equilibrium Selection in Evolutionary Games with Random Matching," Levine's Working Paper Archive 2112, David K. Levine.
    10. Casajus, Andre, 2000. "Focal Points in Framed Strategic Forms," Games and Economic Behavior, Elsevier, Elsevier, vol. 32(2), pages 263-291, August.
    11. Toshimasa Maruta, 1995. "On the Relationship Between Risk-Dominance and Stochastic Stability," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 1122, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    12. Michihiro, Kandori & Rob, Rafael, 1998. "Bandwagon Effects and Long Run Technology Choice," Games and Economic Behavior, Elsevier, Elsevier, vol. 22(1), pages 30-60, January.
    13. Karl H. Schlag, 1994. "When Does Evolution Lead to Efficiency in Communication Games?," Discussion Paper Serie B 299, University of Bonn, Germany.
    14. Maarten Janssen, 2001. "Rationalizing Focal Points," Theory and Decision, Springer, Springer, vol. 50(2), pages 119-148, March.
    15. Ellison, Glenn, 2000. "Basins of Attraction, Long-Run Stochastic Stability, and the Speed of Step-by-Step Evolution," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 67(1), pages 17-45, January.
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    Cited by:
    1. Cason, Timothy & Savikhin, Anya & Sheremeta, Roman, 2011. "Behavioral Spillovers in Coordination Games," MPRA Paper 52106, University Library of Munich, Germany.
    2. Bosch-Domènech, Antoni & Vriend, Nicolaas J., 2013. "On the role of non-equilibrium focal points as coordination devices," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 94(C), pages 52-67.
    3. Nicolas Bardsley & Judith Mehta & Chris Starmer & Robert Sugden, 2006. "The Nature of Salience Revisited: Cognitive Hierarchy Theory versus Team Reasoning," Discussion Papers, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham 2006-17, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    4. Alós-Ferrer, Carlos & Kuzmics, Christoph, 2013. "Hidden symmetries and focal points," Journal of Economic Theory, Elsevier, Elsevier, vol. 148(1), pages 226-258.
    5. Nicholas Bardsley & Judith Mehta & Chris Starmer & Robert Sugden, 2008. "Explaining Focal Points: Cognitive Hierarchy Theory versus Team Reasoning," Discussion Papers, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham 2008-17, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    6. Alberti, Federica & Sugden, Robert & Tsutsui, Kei, 2012. "Salience as an emergent property," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 82(2), pages 379-394.
    7. Gerber, Anke & Hens, Thorsten & Vogt, Bodo, 2010. "Rational investor sentiment in a repeated stochastic game with imperfect monitoring," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 76(3), pages 669-704, December.
    8. Natalya Y. Shelkova, 2008. "Low-Wage Labor Markets and the Power of Suggestion," Working papers, University of Connecticut, Department of Economics 2008-33, University of Connecticut, Department of Economics, revised Dec 2008.
    9. Gintis, Herbert, 2009. "The local best response criterion: An epistemic approach to equilibrium refinement," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 71(2), pages 89-97, August.
    10. Lanzi, Diego, 2011. "Frames as choice superstructures," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 40(2), pages 115-123, April.
    11. Colman, Andrew M., 2006. "Thomas C. Schelling's psychological decision theory: Introduction to a special issue," Journal of Economic Psychology, Elsevier, Elsevier, vol. 27(5), pages 603-608, October.

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