WHAM: "A theory of conventions, part I: conformity with conformity"

You are invited to attend a WHAM seminar by Professor David Dequech of the Institute of Economics at the University of Campinas, Brazil

A theory of conventions, part I: conformity with conformity

Conventions are socially shared rules or systems of rules of behavior or thought with two defining properties. First, the fact that others have adopted a rule, or are expected to adopt it, plays a role in leading someone to also adopt it. Second, the prevailing rule is not unequivocally superior to every other alternative. These properties are called conformity with conformity (or, in a longer expression, conformity of one with the conformity of others) and arbitrariness (or lack of unequivocal superiority), respectively. Closely related to this concept is a theory of conventions that deals with their two defining properties. The present paper develops the first part of this theory, focusing on conformity with conformity. It discusses several mechanisms through which the fact that other agents (are expected to) adopt a rule or system of rules may lead someone else to do the same. 

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