Coordination

Robert Sugden

Chapter 3 in The Economics of Rights, Co-operation and Welfare, 2005, pp 36-57 from Palgrave Macmillan

Abstract: Abstract Suppose that two drivers are approaching a crossroads. Each has a choice of two strategies: he can either slow down or maintain speed. If one slows down and the other maintains speed, both get safely through the crossroads and there is a slight delay to the driver who has slowed down. If they both slow down they reach the crossroads with the problem of priority still to be settled; I take it that this outcome is worse for both drivers than the one in which only one driver slows down. Worst of all, of course, is the outcome in which they both maintain speed. This game is a close relative of the banknote game of Chapter 2; games with this structure are sometimes called leader games (Rapoport, 1967).

Keywords: Stable Equilibrium; Railway Station; Major Road; Deductive Reasoning; Average Utility (search for similar items in EconPapers)
Date: 2005
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-53679-1_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230536791

DOI: 10.1057/9780230536791_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().