Paths to the Frontier
构建了一个集体搜索模型,其中参与者逐步接近帕累托前沿,由于难以找到双方都接受的改进方案而产生无效率,过程具有路径依赖性和周期性。
We construct a model of collective search in which players gradually approach the Pareto frontier. The players have imperfect control over which improvements to the status quo will be considered. Inefficiency takes place due to the difficulty in finding improvements acceptable to both parties. The process is path dependent, with early agreements determining long-run outcomes. It may also be cyclical, as players alternate between being more and less accommodating.