Social learning in a society of decentralized agents

The paper describes research into social learning leading to the coordinated behavior of decentralized agents. We term such an agent, having both a selfish interest and social competence, a decentralized agent. We obtain equilibrium solutions under both individually rational and socially rational behavior of decentralized agents. We formulate the model of social learning as a mutual adjustment process of decision making in a society of decentralized agents. We discuss how the coordinated and socially optimal behavior can emerge from mutual interactions based on the selfish interest seeking of decentralized agents.