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Developmental asymmetries in equilibrium selection

Abstract Coordination problems are central to social and economic life and often involve multiple equilibria. Classical theories identify two canonical principles for equilibrium selection: maximizing payoffs and minimizing strategic risk. These principles differ in what they dem...

Developmental asymmetries in equilibrium selection

Coordination problems are central to social and economic life and often involve multiple equilibria. Classical theories identify two fundamental principles for equilibrium selection: maximizing payoffs and minimizing strategic risk. Yet little is known about how these principles...