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DEFAULT PENALTY AS A SELECTION MECHANISM AMONG MULTIPLE EQUILIBRIA

DEFAULT PENALTY AS A SELECTION MECHANISM AMONG MULTIPLE EQUILIBRIA

DEFAULT PENALTY AS A SELECTION MECHANISM AMONG MULTIPLE EQUILIBRIA. Shyam Sunder, Yale University (Joint with Juergen Huber and Martin Shubik) Fourth LeeX International Conference on Theoretical and Experimental Macroeconomics Barcelona GSE Summer Forum Universitat Pompeu Fabra

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546 views • 44 slides
Economics & Evolution

Economics & Evolution

Economics & Evolution. Number 3. The replicator dynamics (in general). The Replicator Dynamics in the Generalized Rock Scissors, Paper. A =. ? ? ?. The Replicator Dynamics in the Generalized Rock Scissors, Paper. A =. The Replicator Dynamics in the Generalized Rock Scissors, Paper. A =.

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586 views • 43 slides
Economics & Evolution

Economics & Evolution

Economics & Evolution. Number 3. The replicator dynamics (in general). The Replicator Dynamics in the Generalized Rock Scissors, Paper. A =. ? ? ?. The Replicator Dynamics in the Generalized Rock Scissors, Paper. A =. The Replicator Dynamics in the Generalized Rock Scissors, Paper. A =.

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511 views • 40 slides
Nash equilibrium

Nash equilibrium

Nash equilibrium . Nash equilibrium is defined in terms of strategies, not payoffs Every player is best responding simultaneously (everyone optimizes)

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772 views • 23 slides
Presented by Jiyoon Chung

Presented by Jiyoon Chung

Pacheco de Almeida, Goncalo and Peter Zemsky (2003). The effect of time-to-build on strategic investment under uncertainty. Rand Journal of Economics, 34 (1): 167-183. Presented by Jiyoon Chung. Overview.

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165 views • 7 slides

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