46 research outputs found
Strategic Belief Management
While (managerial) beliefs are central to many aspects of strategic organization, interactive beliefs are almost entirely neglected, save for some
game theory treatments. In an increasingly connected and networked economy,
firms confront coordination problems that arise because of network effects.
The capability to manage beliefs will increasingly be a strategic one, a key
source of wealth creation, and a key research area for strategic organization
scholars.
KEYWORDS: Interactive beliefs, coordination, network economy, common
knowledge.
JEL CODE: D84, M3
Assumption without representation: the unacknowledged abstraction from communities and social goods
We have not clearly acknowledged the abstraction from unpriceable “social goods” (derived from
communities) which, different from private and public goods, simply disappear if it is attempted to
market them. Separability from markets and economics has not been argued, much less established.
Acknowledging communities would reinforce rather than undermine them, and thus facilitate
the production of social goods. But it would also help economics by facilitating our understanding
of – and response to – financial crises as well as environmental destruction and many social problems,
and by reducing the alienation from economics often felt by students and the public
Knowledge Asymmetry and Brokerage: Linking Network Perception to Position in Structural Holes
Can We Think Locally, Act Globally? Understanding When Local Information Can Facilitate Global Coordination
Farsighted Stability with Heterogeneous Expectations
This paper analyzes farsighted stable sets when agents have heterogeneous expectations over the dominance paths. We consider expectation functions satisfying two properties of path-persistence and consistency. We show that farsighted stable sets with heterogeneous expectations always exist and that any singleton farsighted stable set with common expectations is a farsighted stable set with heterogeneous expectations. We characterize singleton farsighted stable sets with heterogeneous expectations in one-to-one matching models and voting models, and show that the relaxation of the hypothesis of common expectations greatly expands the set of states that can be supported as singleton farsighted stable sets