coordination problem
/koʊˌɔːrdɪˈneɪʃən ˌprɒbləm/
difficulty in aligning actions when mutual benefit requires agreement
coordination problem in a sentence
“Which side of the road to drive on is a coordination problem.”
Origin of coordination problem
From coordinate (Latin coordinare to arrange together) + problem
Related Words
public good
a good that is non-excludable and non-rivalrous
externality
a cost or benefit affecting parties not involved in a transaction
club good
a good that is excludable but non-rivalrous
common pool resource
a resource that is rivalrous but non-excludable
mechanism design
creating rules to achieve desired outcomes given strategic behavior
incentive compatibility
a system where honest behavior is in each participant's interest