The Quest for a Rational Explanation: An Overview of the Development of Focal Point Theory

Jan-Willem van der Rijt ()
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Jan-Willem van der Rijt: Umeå University, Department of Historical, Philosophical and Religious Studies

Chapter Chapter 2 in Focal Points in Negotiation, 2019, pp 15-44 from Springer

Abstract: Abstract This chapter provides an overview of the development of focal point theory since the notion was introduced by Schelling in The Strategy of Conflict (1960). It first discusses Schelling’s introduction of the notion of focal point in the context of his bargaining-based analysis of the strategic aspects of the Cold War. Subsequently, it turns to the role played by focal points and salience in coordination games and the controversy over the rationality of focal point coordination. Then, it addresses the way focality and salience affect the way people reason, and discusses a number of empirical findings. Lastly, it offers a tentative illustration of the impact of salience on the rationale underlying the appointment of professional negotiators.

Keywords: Thomas Schelling; Game theory; Coordination games; Rationality; Focal points; Salience (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-27901-1_2

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DOI: 10.1007/978-3-030-27901-1_2

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