A new conformity effect in a beauty-contest game set in a complex environment biases groups toward exploration or status-quo based on interaction networks, allowing decentralized organizations to reach profit maximization.
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The optimal mechanism for allocating common-value goods without transfers is defined by two parameters controlling allocation probability and induced learning, often excluding some agents even when all would accept.
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Coordination in complex environments
A new conformity effect in a beauty-contest game set in a complex environment biases groups toward exploration or status-quo based on interaction networks, allowing decentralized organizations to reach profit maximization.
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Allocating Common-Value Goods
The optimal mechanism for allocating common-value goods without transfers is defined by two parameters controlling allocation probability and induced learning, often excluding some agents even when all would accept.