Similar Search Results

Asymmetric Information and Rationalizability

Desgranges, Gabriel; Gauthier, Stéphane - HAL - 2013

We study how asymmetric information affects the set of rationalizable solutions in a linear setup where the outcome is determined by forecasts about this same outcome. The unique rational expectations equilibrium is also the unique rationalizable solution when the sensitivity of the outcome to...

Persistent link: https://www.econbiz.de/10010821524

Asymmetric Information and Rationalizability

Desgranges, Gabriel; Gauthier, Stéphane - HAL - 2013

Persistent link: https://www.econbiz.de/10010775838

Price revelation and existence of equilibrium in a private belief economy

Boisdeffre, Lionel De - HAL - 2013

prices. At a sequential equilibrium, all agents expect the "true" price as a possible outcome and elect optimal strategies at …

Persistent link: https://www.econbiz.de/10011025840

Asymmetric Information and Rationalizability

Desgranges, Gabriel; Gauthier, Stéphane - HAL - 2013

Persistent link: https://www.econbiz.de/10011025881

Privileged information exacerbates market volatility

Desgranges, Gabriel; Gauthier, Stéphane - HAL - 2011

We study how asymmetric information affects market volatility in a linear setup where the outcome is determined by forecasts about this same outcome. The unique rational expectations equilibrium will be stable when it is the only rationalizable solution. It has been established in the literature...

Persistent link: https://www.econbiz.de/10010635137

Information provision in financial markets

Bennouri, Moez; Clark, C. Robert; Robert, Jacques - HAL - 2010

investors. Our model allows us to examine what happens to market performance (market depth, price efficiency, volume of trade … signal increases price informativeness. The volume of trade is independent of the quality of prior information and is …

Persistent link: https://www.econbiz.de/10010821045

Expectational coordination in a class of economic models: Strategic substitutabilities versus strategic complementarities

Guesnerie, Roger; Jara-Moroni, Pedro - HAL - 2007

We consider an economic model that features: 1. a continuum of agents 2. an aggregate state of the world over which agents have an infinitesimal influence. We first propose a review, based on work by Jara (2007), of the connections between the eductive viewpoint that puts emphasis on Strongly...

Persistent link: https://www.econbiz.de/10010738797

Rationalizability in games with a continuum of players

Jara-Moroni, Pedro - HAL - 2008

The concept of Rationalizability has been used in the last fifteen years to study stability of equilibria on models with continuum of players such as standard competitive markets, macroeconomic dynamics and currency attacks. However, Rationalizability has been formally defined in a general...

Persistent link: https://www.econbiz.de/10010739044

Expectational coordination in simple economic contexts: concepts and analysis with emphasis on strategic substitutabilities.

Guesnerie, Roger; Jara-Moroni, Pedro - HAL - 2009

We consider an economic model that features : 1. a continuum of agents 2. an aggregate state of the world over which agents have an infinitesimal influence. We first review the connections between the eductive viewpoint that puts emphasis for example on strongly rational expectations equilibrium...

Persistent link: https://www.econbiz.de/10010739080

Are the antiglobalists right? Gains-from-trade without a walrasian auctioneer

Pardo, Hector Calvo - HAL - 2005

framework, we show that the existence of standard efficiency gains - due to the increase in competition (or spatial price … stabilization) - is traded-off against coordination upon the welfare enhancing free-trade equilibrium (stabilizing price … expectations). Therefore, we identify a new rationale for an exogenous price intervention in open economy targeting coordination …

Persistent link: https://www.econbiz.de/10010739089

1
2
3
4
5
6
7
8
Next
Last