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.
Journal of Political Economy, 114, 956--995
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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.