QWERTY is efficient

Bernardo Guimaraes; Ana Elisa Pereira

doi:10.1016/j.jet.2016.03.008

QWERTY is efficient

Bernardo Guimaraes^*, Ana Elisa Pereira

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

7 Scopus citations

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
Pages (from-to)	819-825
Number of pages	7
Journal	Journal of Economic Theory
Volume	163
DOIs	https://doi.org/10.1016/j.jet.2016.03.008
State	Published - 1 May 2016
Externally published	Yes

Bibliographical note

Funding Information:
We thank Luis Araujo, Braz Camargo, Itay Goldstein, Caio Machado, Daniel Monte, Jakub Steiner, the editor Alessandro Pavan and two anonymous referees for invaluable comments. Bernardo Guimaraes gratefully acknowledges financial support from CNPq . Ana Elisa Pereira gratefully acknowledges financial support from the Sao Paulo Research Foundation ( FAPESP ) through grants 2013/24368-7 and 2014/06069-5 .

Publisher Copyright:
© 2016 Elsevier Inc..

Keywords

Coordination
Dynamic games
Networks
Timing frictions

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10.1016/j.jet.2016.03.008

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title = "QWERTY is efficient",

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.",

keywords = "Coordination, Dynamic games, Networks, Timing frictions",

author = "Bernardo Guimaraes and Pereira, {Ana Elisa}",

note = "Funding Information: We thank Luis Araujo, Braz Camargo, Itay Goldstein, Caio Machado, Daniel Monte, Jakub Steiner, the editor Alessandro Pavan and two anonymous referees for invaluable comments. Bernardo Guimaraes gratefully acknowledges financial support from CNPq . Ana Elisa Pereira gratefully acknowledges financial support from the Sao Paulo Research Foundation ( FAPESP ) through grants 2013/24368-7 and 2014/06069-5 . Publisher Copyright: {\textcopyright} 2016 Elsevier Inc..",

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N2 - 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.

AB - 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.

KW - Coordination

KW - Dynamic games

KW - Networks

KW - Timing frictions

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JO - Journal of Economic Theory

JF - Journal of Economic Theory

ER -

QWERTY is efficient

Abstract

Bibliographical note

Keywords

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