منابع مشابه
Coordination cycles
Players repeatedly face a coordination problem in a dynamic global game. By choosing a risky action (invest) instead of waiting, players risk instantaneous losses as well as a loss of payoffs from future stages, in which they cannot participate if they go bankrupt. Thus, the total strategic risk associated with investment in a particular stage depends on the expected continuation payoff. High c...
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I propose a theoretical mechanism that offers a possible explanation for the post-Great Recession stagnation experience observed in many industrialized countries. The theory is based on failures in the coordination of the beliefs of productive and innovative agents. In the model, an innovative sector determines endogenously the long-run growth rate of the economy, and research exhibits positive...
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As the humanitarian aid sector is expanding, the need for enhancing coordination capabilities increases as well. This holds especially for the area of logistics, because humanitarian operations typically take place in unstable and risky environments, where infrastructure is poor, while staff turnover is high. The effectiveness of humanitarian logistics critically depends on the availability and...
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Business cycles in emerging market economies are systematically associated with countercyclical changes in their country spreads: namely, in bad times, countries borrow less at higher spread and default more frequently. To examine this prominent aspect of emerging countries, I develop a small open economy model of sovereign default in a dynamic stochastic general equilibrium setting. In this mo...
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ژورنال
عنوان ژورنال: Games and Economic Behavior
سال: 2008
ISSN: 0899-8256
DOI: 10.1016/j.geb.2007.07.005