Strategy in the Real World · Designing games
Coordination & Focal Points
When everyone just needs to match, which equilibrium wins? Schelling's focal points, conventions and standards, stag hunts and trust, and how focal points show up in negotiations, prices, money and crypto.
Step 1 of 5 · Overview30 min read ·
Key idea
Prereqs: Nash equilibrium; Repeated games. Next: Voting & social choice. Sources: Thomas Schelling's *The Strategy of Conflict* (1960), David Lewis's *Convention* (1969), Mehta, Starmer & Sugden (1994) experiments.Next: 1. Coordination games