Optimal Fragile Financial Networks

the structure of the decentralized financial network is equal to the efficient one, yielding an expected payoff arbitrarily close to the efficient one. However, the investment decision is not the same. That is, in the decentralized network some banks will gamble as compared to the socially preferred outcome.

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Year of publication:	2008
Authors:	Castiglionesi, Fabio
Institutions:	Society for Economic Dynamics - SED

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Extent:	application/pdf
Series:	2008 Meeting Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2008 SED Meeting Papers Number 658
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011081110