What constitutes a convention? Implications for the coexistence of conventions
A model of repeated play of a coordination game, where stage games have a location in social space, and players receive noisy signals of the true location of their games, is reviewed. Sugden (1995) suggests that in such a model, there can be a stationary state of convention coexistence only if interaction is non-uniform across social space. This paper shows that an alternative definition of conventions, which links conventions to actions rather than expectations, permits convention coexistence when interaction is uniform. To assess robustness, the concept of a global mutant is introduced, to which certain states of coexistence are robust.
|Date of creation:||2004|
|Date of revision:|
|Contact details of provider:|| Postal: P.O. Box 6033, N-5020 Bergen|
Phone: +47 55 57 40 00
Fax: +47 55 57 41 66
Web page: http://www.cmi.no
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.:
- H. Peyton Young, 1996. "The Economics of Convention," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 105-122, Spring.
- Aderlini, L. & Ianni, A., 1993.
"Path Dependence and Learning from Neighbours,"
186, Cambridge - Risk, Information & Quantity Signals.
- Sugden, Robert, 1995. "The coexistence of conventions," Journal of Economic Behavior & Organization, Elsevier, vol. 28(2), pages 241-256, October.
When requesting a correction, please mention this item's handle: RePEc:chm:wpaper:wp2004-3. 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: (Robert Sjursen)
If references are entirely missing, you can add them using this form.