I agree with Linch that the idea that “a game can have multiple equilibria that are Pareto-rankable” is trivial. Then the existence of multiple equilibria automatically means players can get trapped in a suboptimal equilibrium – after all, that’s what an equilibrium is.
What specific element of “coordination traps” goes beyond that core idea?
I agree with Linch that the idea that “a game can have multiple equilibria that are Pareto-rankable” is trivial. Then the existence of multiple equilibria automatically means players can get trapped in a suboptimal equilibrium – after all, that’s what an equilibrium is.
What specific element of “coordination traps” goes beyond that core idea?