Hidden symmetries and focal points

Carlos Alós-Ferrer, Christoph Kuzmics

Research output: Contribution to journalArticle

Abstract

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.

Original languageEnglish (US)
Pages (from-to)226-258
Number of pages33
JournalJournal of Economic Theory
Volume148
Issue number1
DOIs
StatePublished - Jan 1 2013

Keywords

  • Focal points
  • Frames
  • Nash equilibria
  • Symmetry

ASJC Scopus subject areas

  • Economics and Econometrics

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