Scholarly Comments on Academic Economics

Salute to Schelling: Keeping It Human

by

Abstract

Thomas Schelling has been one of the, and in many cases the, pioneer in developing the following ideas: coordination concepts, focal points, convention, commitments (including promises and threats) as strategic tactics, the idea that strategic strength may lie in weaknesses and limitations, brinkmanship as the strategic manipulation of risk, speech as a strategic device, tipping points and critical mass, path-dependence and lock-in of suboptimal conventions, self-fulfilling prophecy, repeated interaction and reputation as a basis for cooperation, the multiple self, and self-commitment as a strategic tactic in the contest for self-control.