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Coordination Game
A type of game where players benefit from making the same choices or coordinating their actions, often leading to multiple equilibria.
Implications
A game theory scenario where all participants benefit from making the same choices and coordinating their actions, often used to model situations where alignment and cooperation are necessary for mutual success.
Example
Example: In a coordination game, two companies in a supply chain must decide whether to invest in compatible technologies to improve efficiency, with mutual benefit if they both choose the same option.
Related Terms
Different from competitive games, where players have opposing interests, coordination games involve mutual benefits from aligned strategies.
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