Information Technology Consulting Service

www.katarincic.com


Welcome Guest Search | Active Topics | Members | Log In

Focal point (game theory) Options · View
scott
Posted: Wednesday, February 03, 2016 8:30:23 AM
Rank: Administration
Groups: Member

Joined: 3/24/2008
Posts: 2,808
Points: 5,600
Location: South Florida USA
Focal point (game theory)

https://en.wikipedia.org/wiki/Focal_point_(game_theory)


Quote:

In game theory, a focal point (also called Schelling point) is a solution that people will tend to use in the absence of communication, because it seems natural, special, or relevant to them. The concept was introduced by the Nobel Memorial Prize-winning American economist Thomas Schelling in his book The Strategy of Conflict (1960).[1] In this book (at p. 57), Schelling describes "focal point[s] for each person’s expectation of what the other expects him to expect to be expected to do". This type of focal point later was named after Schelling. He further explains that such points are highly useful in negotiations, because we cannot completely trust our negotiating partners' words.


Users browsing this topic
Guest


Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Main Forum RSS : RSS

SoClean Theme Created by Jaben Cargman (Tiny Gecko)
Powered by Yet Another Forum.net version 1.9.1.6 (NET v2.0) - 11/14/2007
Copyright © 2003-2006 Yet Another Forum.net. All rights reserved.
This page was generated in 0.028 seconds.