In a coordination game with switching costs and logit quantal response, endogenous hard transformations (action deletion) eliminate inertia better than soft ones (taxes), while meta-level antagonistic social preferences can block individually Pareto-improving reforms.
Unique equilibrium in a model of self-fulfilling currency attacks.American Economic Review, 88(3):587–597, 1998
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Why Efficient Reforms Fail: Endogenous Game Transformation under Status Quo Bias and Social Preferences
In a coordination game with switching costs and logit quantal response, endogenous hard transformations (action deletion) eliminate inertia better than soft ones (taxes), while meta-level antagonistic social preferences can block individually Pareto-improving reforms.