Expeditions without Maps: Why Faulty Initial Representations May Be Useful in Join Discovery Problems
55 Pages Posted: 30 Jun 2008 Last revised: 13 Feb 2011
Date Written: December 2010
When interdependent agents face structural uncertainty - i.e. they do not know ex ante how their choices interact, they must obtain such knowledge through shared trial-and-error learning experiences that build off their individual initial representations. We use an agent based model to formally analyse how joint learning and initial individual knowledge - and their interactions - influence the process of achieving coordination under conditions of structural uncertainty.
Keywords: Coordination, Representations, Simulation
JEL Classification: D83, C79
Suggested Citation: Suggested Citation