Rationality and Coordination

Rationality and Coordination

by Cristina Bicchieri
     
 

ISBN-10: 0521574447

ISBN-13: 9780521574440

Pub. Date: 03/28/1997

Publisher: Cambridge University Press

This book explores how individual actions coordinate to produce unintended social consequences. In the past this phenomenon has been explained as the outcome of rational, self-interested individual behaviour. Professor Bicchieri shows that this is in no way a satisfying explanation. She discusses how much knowledge is needed by agents in order to coordinate

Overview

This book explores how individual actions coordinate to produce unintended social consequences. In the past this phenomenon has been explained as the outcome of rational, self-interested individual behaviour. Professor Bicchieri shows that this is in no way a satisfying explanation. She discusses how much knowledge is needed by agents in order to coordinate successfully. If the answer is unbounded knowledge, then a whole variety of paradoxes arise. If the answer is very little knowledge, then there seems hardly any possibility of attaining coordination. The solution to coordination and cooperation is for agents to learn about each other. The author concludes that rationality must be supplemented by models of learning and by an evolutionary account of how social order (i.e. spontaneous coordinated behaviour) can persist.

Product Details

ISBN-13:
9780521574440
Publisher:
Cambridge University Press
Publication date:
03/28/1997
Series:
Cambridge Studies in Probability, Induction and Decision Theory Series
Edition description:
New Edition
Pages:
286
Product dimensions:
5.98(w) x 8.98(h) x 0.55(d)

Table of Contents

1. Rationality and predictability; 2. Equilibrium; 3. Epistemic rationality; 4. Self-fulfilling theories; 5. Paradoxes of rationality; 6. Learning and norms: the case of cooperation.

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