Coordination with Independent Private Values: why Pedestrians sometimes bump into each other

Christoph Kuzmics

VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association

Abstract: Motivated by trying to better understand the norms that govern pedestrian traffic, I study symmetric two-player coordination games with independent private values. The strategies of "always pass on the left" and "always pass on the right" are always equilibria of this game. Some such games, however, also have other (pure strategy) equilibria with a positive likelihood of mis-coordination. Perhaps sur- prisingly, in some such games, these Pareto-inefficient equilibria, with a positive likelihood of mis-coordination, are the only evolutionarily stable equilibria of the game.

JEL-codes: C72 C73 D82 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-gth and nep-mic
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Working Paper: Coordination with independent private values: why pedestrians sometimes bump into each other (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc14:100529

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