Rationality and Coordination
Book Details
Format
Paperback / Softback
ISBN-10
0521574447
ISBN-13
9780521574440
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Mar 28th, 1997
Print length
288 Pages
Weight
395 grams
Dimensions
22.40 x 15.00 x 1.50 cms
Ksh 7,750.00
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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.
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.
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