We present a family of tractable dynamic global games and its applications. Agents privately learn about a fixed fundamental, and repeatedly adjust their investments while facing frictions. The game exhibits many externalities: payoffs may depend on the volume of investment, on its volatility,...

We study coordination failures in many simultaneously occurring coordination problems. Players encounter one of the problems but have the outside option of migrating to one of the remaining ones. Drawing on the global games approach, we show that such a mobile game has a unique equilibrium that...

We study the effect of stochastically delayed communication on common knowledge acquisition (common learning). If messages do not report dispatch times, communication prevents common learning under general conditions even if common knowledge is acquired without communication. If messages report...