So is the effect what happens when the least-worst option becomes a Schelling Point? It seems like the nuance of the phrase relies on everyone choosing the same least-worst option, rather than anything in particular about the option itself.
How do we distinguish between Tallest Pygmy Effect from one where people have settled on a not-the-best option which is still a Nash equilibrium?
So is the effect what happens when the least-worst option becomes a Schelling Point? It seems like the nuance of the phrase relies on everyone choosing the same least-worst option, rather than anything in particular about the option itself.
How do we distinguish between Tallest Pygmy Effect from one where people have settled on a not-the-best option which is still a Nash equilibrium?