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Rationality and Coordination

Rationality and Coordination

$45.00

Part of Cambridge Studies in Probability, Induction and Decision Theory

  • Date Published: March 1997
  • availability: In stock
  • format: Paperback
  • isbn: 9780521574440

$45.00
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  • 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.

    • A major study of developments in game theory that is truly interdisciplinary
    • Note positive review by Nobel-prize winning economist Douglass North
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    Product details

    • Date Published: March 1997
    • format: Paperback
    • isbn: 9780521574440
    • length: 286 pages
    • dimensions: 228 x 152 x 14 mm
    • weight: 0.39kg
    • availability: In stock
  • 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.

  • Author

    Cristina Bicchieri, University of Pennsylvania

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