Focal point (game theory)
id:
focal-point-game-theory-164-13860133
title:
Focal point (game theory)
text:
In game theory, a focal point is a solution that people tend to choose by default in the absence of communication in order to avoid coordination failure. The concept was introduced by the American economist Thomas Schelling in his book The Strategy of Conflict (1960). Schelling states that "[p]eople can often concert their intentions or expectations with others if each knows that the other is trying to do the same" in a cooperative situation, so their action would converge on a focal point which
brand slug:
wiki
category slug:
encyclopedia
description:
Concept in game theory
original url:
https://en.wikipedia.org/wiki/Focal_point_(game_theory)
date created:
2005-08-31T12:05:07Z
date modified:
2024-08-29T01:31:42Z
main entity:
{"identifier":"Q1435226","url":"https://www.wikidata.org/entity/Q1435226"}
image:
fields total:
13
integrity:
15