Abstract
In this paper we examine the issue whether individual rationality considerations are sufficient to guarantee that individuals will learn to coordinate. This question is central in any discussion of whether social phenomena (read: conventions) can be explained in terms of a purely individualistic approach. We argue that the positive answers to this general question that have been obtained in some recent work require assumptions which incorporate some convention. This conclusion may be seen as supporting the viewpoint of 'institutional individualism' in contrast to 'psychological individualism'.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 29-49 |
| Number of pages | 21 |
| Journal | Theory and Decision |
| Volume | 40 |
| Issue number | 1 |
| DOIs | |
| State | Published - 1996 |
Keywords
- Collective rationality
- Conventions
- Coordination
- Individual rationality
- Learning
ASJC Scopus subject areas
- General Decision Sciences
- Developmental and Educational Psychology
- Arts and Humanities (miscellaneous)
- Applied Psychology
- General Social Sciences
- General Economics, Econometrics and Finance
- Computer Science Applications