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originates in the signaling role of policy choices. A novel procedure of iterated elimination of non-equilibrium strategies is …
Persistent link: https://www.econbiz.de/10010691962
Global games of regime change – coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it – have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We extend...
Persistent link: https://www.econbiz.de/10008665284
Global games of regime change that is, coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We...
Persistent link: https://www.econbiz.de/10010266305
Global games of regime change - that is, coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it - have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We...
Persistent link: https://www.econbiz.de/10014067975
strategic complementarities and heterogeneous expectations. We consider a simple dynamic global game of regime change, in which …
Persistent link: https://www.econbiz.de/10005069517
Global games of regime change-coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it-have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We extend the...
Persistent link: https://www.econbiz.de/10010282901
Global games of regime change–coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it–have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We extend the...
Persistent link: https://www.econbiz.de/10008597104
Persistent link: https://www.econbiz.de/10005051318
This paper uses a laboratory experiment to test the predictions of a dynamic global game designed to capture the self-fulfilling nature of speculative attacks. The game has two stages and a large number of heterogeneously informed agents deciding whether to attack the status quo. In the first...
Persistent link: https://www.econbiz.de/10012729505
complementarities in actions translate into complementarities in information acquisition. In addition, increasing number of in- formed …
Persistent link: https://www.econbiz.de/10014165443