Schelling Points
A Schelling Point, named after economist Thomas Schelling, refers to a solution or outcome that people naturally gravitate towards in the absence of communication. It is often used in game theory to describe how individuals can coordinate their actions based on shared expectations or common knowledge. For example, if two people are asked to meet in a city without prior discussion, they might both choose a well-known landmark as a meeting point.
These points rely on cultural or contextual cues that make certain choices more appealing or obvious. In situations where individuals must make decisions independently, Schelling Points help facilitate cooperation and understanding, even when direct communication is not possible.