Hidden Symmetries and Focal Points
39 Pages Posted: 20 Aug 2008 Last revised: 3 Apr 2012
Date Written: March 3, 2012
We provide a general formal framework to define and analyze the concepts of focal points and frames for normal form games. The information provided by a frame is captured by a symmetry structure which is consistent with the payoff structure of the game. The set of symmetry structures has itself a clear structure (a lattice). Focal points are strategy profiles which respect the symmetry structure and are chosen according to some meta-norm, which is not particular to the framed game at hand.
Keywords: symmetry, focal points, frames, Nash equilibria
JEL Classification: C72, D83
Suggested Citation: Suggested Citation