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Kuang, Pei - Department of Economics, University of Birmingham - 2013

This paper studies the interaction of agents' collateral price beliefs, credit constraint and aggregate economic activity over the business cycle. Learning strengthens the role of collateral constraints in aggregate fluctuations. Under Heterogeneous learning rules, numerical simulations...

Persistent link: https://www.econbiz.de/10010797808

Conflict and segregation in networks: An experiment on the interplay between individual preferences and social influence

Ellwardt, Lea; Hernández, Penélope; … - Estructura de Recerca Interdisciplinar Comportament … - 2014

We examine the interplay between a person's individual preference and the social influence others exert. We provide a model of network relationships with conflicting preferences, where individuals are better off coordinating with those around them, but not all prefer the same action. We test our...

Persistent link: https://www.econbiz.de/10010752124

Comment on Assenza and Berardi "Learning in a Credit Economy" (2009, JEDC)

Kuang, Pei - Department of Economics, University of Birmingham - 2012

This comment shows that the "optimality" conditions in Assenza and Berardi (2009, JEDC) "Learning in a Credit Economy" imply that agents' "optimal" choices are either suboptimal or infeasible. It presents the correct optimality conditions and discusses the effect on the E-stability condition of...

Persistent link: https://www.econbiz.de/10010616671

Heterogeneous Network Games: Conflicting Preferences

Hernandez, Penelope; Herrera, Edson Manuel Muñoz; … - Estructura de Recerca Interdisciplinar Comportament … - 2011

We propose a model of network games with heterogeneity introduced by endowing players with types that generate … function depends on the network structure, and we ask how does heterogeneity shape players' decision making, what is its effect … on equilibria, conditions of stability, and welfare. Heterogeneity in players' type establishes the existence of …

Persistent link: https://www.econbiz.de/10008830115