Dynamic Coordination via Organizational Routines
We investigate dynamic coordination among members of a problem-solving team who receive private signals about which of their actions are required for a (static) coordinated solution and who have repeated opportunities to explore different action combinations. In this environment ordinal equilibria, in which agents condition only on how their signals rank their actions and not on signal strength, lead to simple patterns of behavior that have a natural interpretation as routines. These routines partially solve the team's coordination problem by synchronizing the team's search efforts and prove to be resilient to changes in the environment by being ex post equilibria, to agents having only a coarse understanding of other agents' strategies by being fully cursed, and to natural forms of agents' overconfidence. The price of this resilience is that optimal routines are frequently suboptimal equilibria.
|Date of creation:||2013|
|Contact details of provider:|| Web page: http://www.socialpolitik.org/|
More information through EDIRC
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.:
- repec:pit:wpaper:382 is not listed on IDEAS
- David A. Miller, 2012.
"Robust Collusion with Private Information,"
Review of Economic Studies,
Oxford University Press, vol. 79(2), pages 778-811.
- David A. Miller, 2005. "The dynamic cost of ex post incentive compatibility in repeated games of private information," Game Theory and Information 0510002, EconWPA.
- Robert Gibbons, 2010.
"Inside Organizations: Pricing, Politics, and Path Dependence,"
Annual Review of Economics,
Annual Reviews, vol. 2(1), pages 337-365, 09.
- Robert S. Gibbons, 2010. "Inside Organizations: Pricing, Politics, and Path Dependence," Levine's Working Paper Archive 661465000000000249, David K. Levine.
- Thomas Wiseman, 2005. "A Partial Folk Theorem for Games with Unknown Payoff Distributions," Econometrica, Econometric Society, vol. 73(2), pages 629-645, 03.
- GOSSNER, Olivier & VIEILLE, Nicolas, 1998.
"Strategic learning in games with symmetric information,"
CORE Discussion Papers
1998023, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Gossner, Olivier & Vieille, Nicolas, 2003. "Strategic learning in games with symmetric information," Games and Economic Behavior, Elsevier, vol. 42(1), pages 25-47, January.
- Nicolas Vieille & Olivier Gossner, 2003. "Strategic learning in games with symmetric information," Post-Print hal-00464978, HAL.
- O. Gossner & N. Vieille, 2000. "Strategic Learning in Games with Symmetric Information," THEMA Working Papers 2000-27, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
- Sylvain Chassang, 2010. "Building Routines: Learning, Cooperation, and the Dynamics of Incomplete Relational Contracts," American Economic Review, American Economic Association, vol. 100(1), pages 448-465, March.
- Abhijit V. Banerjee, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, Oxford University Press, vol. 107(3), pages 797-817.
- Chamley,Christophe P., 2004. "Rational Herds," Cambridge Books, Cambridge University Press, number 9780521824019, October.
- Blume, Andreas & Heidhues, Paul, 2006.
"Private monitoring in auctions,"
Journal of Economic Theory,
Elsevier, vol. 131(1), pages 179-211, November.
- Jehiel, Philippe, 2005.
"Analogy-based expectation equilibrium,"
Journal of Economic Theory,
Elsevier, vol. 123(2), pages 81-104, August.
- Philippe Jehiel, 2005. "Analogy-based Expectation Equilibrium," Post-Print halshs-00754070, HAL.
- Philippe Jehiel, 2005. "Analogy-Based Expectation Equilibrium," Levine's Bibliography 784828000000000106, UCLA Department of Economics.
- Philippe Jeniel, 2001. "Analogy-Based Expectation Equilibrium," Economics Working Papers 0003, Institute for Advanced Study, School of Social Science.
- Jacques Cremer & Luis Garicano & Andrea Prat, 2006.
"Language and the Theory of the Firm,"
784828000000000373, UCLA Department of Economics.
- Andreas Blume & John Duffy, 2004. "Organizational Learning: An Experimental Investigation," 2004 Meeting Papers 617, Society for Economic Dynamics.
- Blume, Andreas & Franco, April Mitchell, 2007. "Decentralized learning from failure," Journal of Economic Theory, Elsevier, vol. 133(1), pages 504-523, March.
- Chamley,Christophe P., 2004. "Rational Herds," Cambridge Books, Cambridge University Press, number 9780521530927, October.
When requesting a correction, please mention this item's handle: RePEc:zbw:vfsc13:80027. 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: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.