[
Lists Home |
Date Index |
Thread Index
]
Hi Paul,
Paul said:
At this point it should be in everyone's interest to standardize. In
fact, it is often the case that people don't even attempt to do X until
they have a standard for X because they are so afraid of dealing with
the situation that you describe.
Didier replies:
You're right, the overall cost would be a lot lower for everybody. It
seems that, in reality, not all groups tend to reach the Nash's
equilibrium. Said differently, individuals do not behave having in mind
their own behavior and the behavior of the group. I think that XML based
domain languages or data structure will reach some success when groups
perceive that they have to reach some form of cooperation in order to
lower the overall costs. A good example of such behavior may be XBRL (1)
in the financial domain. By experience, I discovered that if no external
constrain is applied by a pressure group or by economic constraints,
then people do not behave according to Nash equilibrium and therefore
act as Adam smith creatures and think of their own benefit without
thinking about the overall system. Walter's thesis may be right when
applied to groups behaving in accordance to Adam Smith creatures and may
be wrong in accordance to groups behaving in accordance to Nash's
equilibrium.
Cheers
Didier PH Martin
|
