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This paper examines the ability of a policy maker to control equilibrium outcomes in a global coordination game … into a position where both the optimal policy and the coordination outcome are dictated by self-fulfilling market …
Persistent link: https://www.econbiz.de/10010266286
This paper analyzes equlibrium and welfare for a tractable class of economies (games) with externalities, strategic complementarity or substitutability, and heterogenous information. First, we characterize the equilibrium use of information; complementarity heightens the sensitivity of...
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I study a many-to-many, two-sided, transferable utility matching game. Consider data on matches or relationships between agents but not on the choice set of each agent. I investigate what economic parameters can be learned from data on equilibrium matches and agent characteristics. Features of a...
Persistent link: https://www.econbiz.de/10011754942
relation between the equilibrium and the socially optimal degrees of coordination. The former summarizes the private value from …
Persistent link: https://www.econbiz.de/10010282908
relation between the equilibrium and the socially optimal degrees of coordination. The former summarizes the private value from …
Persistent link: https://www.econbiz.de/10008597115
Persistent link: https://www.econbiz.de/10011439813