The emergence of norms of cooperation in stag hunt games with production
In this paper we study a two agents asymmetric stag hunt game. The model has an in.nity of strict, Pareto rankable Nash equilibria. The equilibrium selection problem is solved by appealing to the stochastic stability concept put forward by Young (1993). We prove two main results. When the action sets are numerable in.nite sets, then for any value of the distributive parameter we can expect the emergence of a norm involving less than maximal cooperation. When instead the action sets are infinite sets of a particular type (in the sense that each agent can choose his maximum optimal effort and fractions of this), then for some value of the distributive parameter we can expect the emergence of a norm involving maximal cooperation.
|Date of creation:||Feb 2008|
|Date of revision:|
|Contact details of provider:|| Postal: Piazza Scaravilli, 2, and Strada Maggiore, 45, 40125 Bologna|
Phone: +39 051 209 8019 and 2600
Fax: +39 051 209 8040 and 2664
Web page: http://www.dse.unibo.it
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- M. Kandori & R. Rob, 2010.
"Bandwagon Effects and Long Run Technology Choice,"
Levine's Working Paper Archive
501, David K. Levine.
- V. Crawford, 2010.
"Adaptive Dynamics in Coordination Games,"
Levine's Working Paper Archive
404, David K. Levine.
- Van Huyck, John B & Battalio, Raymond C & Beil, Richard O, 1990.
"Tacit Coordination Games, Strategic Uncertainty, and Coordination Failure,"
American Economic Review,
American Economic Association, vol. 80(1), pages 234-48, March.
- J. B. Van Huyck & R. C. Battalio & R. O. Beil, 2010. "Tacit coordination games, strategic uncertainty, and coordination failure," Levine's Working Paper Archive 661465000000000393, David K. Levine.
- John B Van Huyck & Raymond C Battalio & Richard O Beil, 1997. "Tacit coordination games, strategic uncertainty, and coordination failure," Levine's Working Paper Archive 1225, David K. Levine.
- Cooper,Russell, 1999. "Coordination Games," Cambridge Books, Cambridge University Press, number 9780521578967, November.
- Wasow, Bernard, 1980. "Optimal Income Distribution with Variable Factor Supplies: A Graphical Exposition," The Manchester School of Economic & Social Studies, University of Manchester, vol. 48(1), pages 79-86, March.
- Patrick Legros & Steven Matthews, 1993.
"Efficient and nearly efficient partnerships,"
ULB Institutional Repository
2013/7040, ULB -- Universite Libre de Bruxelles.
- Carlsson, H. & Van Dame, E., 1991. "Equilibrium Selection in Stag Hunt Games," Papers 9170, Tilburg - Center for Economic Research.
- Russell Cooper & Andrew John, 1988. "Coordinating Coordination Failures in Keynesian Models," The Quarterly Journal of Economics, Oxford University Press, vol. 103(3), pages 441-463.
- Debraj Ray & Jean-Marie Baland & Olivier Dagnelie, 2007.
"Inequality and Inefficiency in Joint Projects,"
Royal Economic Society, vol. 117(522), pages 922-935, 07.
- Vislie, Jon, 1994. "Efficiency and equilibria in complementary teams," Journal of Economic Behavior & Organization, Elsevier, vol. 23(1), pages 83-91, January.
- Hvide, Hans K, 2001. "Some Comments on Free-Riding in Leontief Partnerships," Economic Inquiry, Western Economic Association International, vol. 39(3), pages 467-73, July.
- Glenn Ellison, 2000. "Basins of Attraction, Long-Run Stochastic Stability, and the Speed of Step-by-Step Evolution," Review of Economic Studies, Oxford University Press, vol. 67(1), pages 17-45.
- Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, vol. 14(1), pages 124-143, May.
- Cooper,Russell, 1999. "Coordination Games," Cambridge Books, Cambridge University Press, number 9780521570176, November.
- Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
- Van Huyck, John B. & Cook, Joseph P. & Battalio, Raymond C., 1997. "Adaptive behavior and coordination failure," Journal of Economic Behavior & Organization, Elsevier, vol. 32(4), pages 483-503, April.
When requesting a correction, please mention this item's handle: RePEc:bol:bodewp:626. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dipartimento Scienze Economiche, Universita' di Bologna)
If references are entirely missing, you can add them using this form.