What is the term for when people fail to reach a mutually beneficial equilibrium because they lack a way to synchronize their actions

Question

01-07-2021
Business

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What is the term for when people fail to reach a mutually beneficial equilibrium because they lack a way to synchronize their actions

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Lanuel Lanuel · Answer 1 · 2021-07-06T22:27:33-04:00

Answer:

A coordination failure.

Explanation:

A coordination failure is the term used for describing a situation when two or more people fail to reach a mutually beneficial equilibrium because they lack a way to synchronize their actions. Thus, a coordination failure simply occurs when two or more people or businesses are lacking coordination in their actions and as a result are unable to reach a mutually beneficial equilibrium or compromise.

What is the term for when people fail to reach a mutually beneficial equilibrium because they lack a way to synchronize their actions

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