Abstract
We study a dynamic coordination problem with staggered decisions where agents choose between two competing networks. If the intrinsically worst one prevails, this is efficient. Moreover, inefficient shifts to the intrinsically best network might occur in equilibrium.
Original language | English |
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Pages (from-to) | 819-825 |
Number of pages | 7 |
Journal | Journal of Economic Theory |
Volume | 163 |
DOIs | |
State | Published - 1 May 2016 |
Externally published | Yes |
Bibliographical note
Publisher Copyright:© 2016 Elsevier Inc..
Keywords
- Coordination
- Dynamic games
- Networks
- Timing frictions