Goldstein, Itay (contributor); Pauzner, Ady (contributor) - 2001 - [Elektronische Ressource]
patient agent acts according to threshold θ if she goes to the bank at period
1 (2) when her signal is below (above) θ. We … (see page 19) from
1
θ to
0
θ , implying that )(θn′ ranges over all
the negative values that )(θn reaches, but ‘stays … a bank might hold such a risky portfolio. By offering ‘demand deposit’ contracts,
the bank enables investors who are …