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We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making a (possibly costly) forward-looking disclosure about her project's...
Persistent link: https://www.econbiz.de/10011504350
We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making a (possibly costly) forward-looking disclosure about her project's...
Persistent link: https://www.econbiz.de/10011506852
Persistent link: https://www.econbiz.de/10010245455
A dynamic Bertrand-duopoly model where price leadership emerges in equilibrium is developed. In the price leadership equilibrium, a firm leads price changes and its competitor always matches in the next period. The firms produce a homogeneous product and are identical except for the information...
Persistent link: https://www.econbiz.de/10012607377
behavioral foundations of weapons acquisitions to a general theory of arms races, with implications for the role of negotiations …, the balance of power, the timing of crises, and nuclear proliferation. Recent developments in economic theory are also …
Persistent link: https://www.econbiz.de/10014024425
We study the standard reputation model with a long-run (LR) player facing a sequence of short-run (SR) opponents, with one difference: the SR players are uncertain about the monitoring structure, while the LR player knows it. We construct examples where the standard reputation result breaks...
Persistent link: https://www.econbiz.de/10015332592