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Mutual knowledge structures and social coordination: a knowledge-induced equilibrium

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  • Richards, Diana

Abstract

Shared knowledge structures, such as cognitive categories and relationships, are central to the interpretation of a complex social environment and thus play an important role in mediating between individual preferences and group outcomes. This article defines a "knowledge-induced equilibrium" that applies to both cooperative game theory, such as social choice and voting, and to non-cooperative game theory, such as coordination games. This equilibrium concept bridges between interpretive approaches, which emphasize cognitive structures or frames, and positive approaches, which focus on preferences, choice, and the stability of collective outcomes.

Suggested Citation

  • Richards, Diana, 1998. "Mutual knowledge structures and social coordination: a knowledge-induced equilibrium," Bulletins 7478, University of Minnesota, Economic Development Center.
  • Handle: RePEc:ags:umedbu:7478
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    6. Denzau, Arthur T & North, Douglass C, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Wiley Blackwell, vol. 47(1), pages 3-31.
    7. Wendt, Alexander, 1992. "Anarchy is what states make of it: the social construction of power politics," International Organization, Cambridge University Press, vol. 46(02), pages 391-425, March.
    8. Nicholas G. Polson & George C. Tiao (ed.), 1995. "Bayesian Inference," Books, Edward Elgar Publishing, volume 0, number 602.
    9. Michael Taylor, 1968. "Graph-theoretic approaches to the theory of social choice," Public Choice, Springer, vol. 4(1), pages 35-47, March.
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    Keywords

    Political Economy;

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