Coordination game

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In game theory, coordination games are a class of games with multiple pure strategy Nash equilibria in which players choose the same or corresponding strategies.

Description

Coordination games are a formalization of the idea of a coordination problem, which is widespread in the social sciences, including economics, meaning situations in which all parties can realize mutual gains, but only by making mutually consistent decisions.

A common application is the choice of technological standards.

See also

External links