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Acemoglu, Daron - 2010

We study the efficiency of oligopoly equilibria in a model where firms compete over capacities and prices. The … demands across the firms. We first establish the existence of pure strategy subgame perfect equilibria (oligopoly equilibria … oligopoly equilibria of this game can be arbitrarily low. However, if the best oligopoly equilibrium is selected (among multiple …

Persistent link: https://www.econbiz.de/10012760481

Subgame Perfect Implementation with Almost Perfect Information and the Hold-Up Problem

Aghion, Philippe - 2009

The foundations of incomplete contracts have been questioned using or extending the subgame perfect implementation approach of Moore and Repullo (1988). We consider the robustness of subgame perfect implementation to the introduction of small amounts of asymmetric information. We show that...

Persistent link: https://www.econbiz.de/10013157916

Estimating Dynamic Games of Oligopolistic Competition : An Experimental Investigation

Salz, Tobias - 2020

We evaluate dynamic oligopoly estimators with laboratory data. Using a stylized en-try/exit game, we estimate …

Persistent link: https://www.econbiz.de/10012841410

Participation and Duration of Environmental Agreements

Battaglini, Marco - 2012

incomplete. Since real-world IEAs fit in the incomplete contracting environment, our theory may help explaining the rising …

Persistent link: https://www.econbiz.de/10013096862

Private Politics and Public Regulation

Egorov, Georgy - 2013

We develop a dynamic game to explore the interaction between regulation and private policies, such as self-regulation by firms and activism. Without a public regulator, the possibility of self-regulation is bad for the firm, but good for activists who are willing to maintain a costly boycott to...

Persistent link: https://www.econbiz.de/10013071787

Guns, Latrines, and Land Reform : Private Expectations and Public Policy

Kremer, Michael - 2016

Dynamically and statically optimal Pigouvian subsidies on durables will differ in a growing economy. For durables with positive externalities, such as sanitation, statically optimal subsidies will typically grow. However, in a dynamic game, governments can most cheaply induce optimal purchasing...

Persistent link: https://www.econbiz.de/10013000512

Dynamic Seigniorage Theory : an Exploration

Obstfeld, Maurice - 2008

;tax-smoothingquot; theory of government deficits, which predicts that the inflation tax follows approximately a martingale, and of models of …

Persistent link: https://www.econbiz.de/10012774830

The Dynamic Effects of Educational Accountability

Macartney, Hugh - 2014

This paper provides the first evidence that value-added education accountability schemes induce dynamic distortions. Extending earlier dynamic moral hazard models, I propose a new test for ratchet effects, showing that classroom inputs are distorted less when schools face a shorter horizon over...

Persistent link: https://www.econbiz.de/10013058252

Improving Policy Functions in High-Dimensional Dynamic Games

Manzanares, Carlos - 2015

In this paper, we propose a method for finding policy function improvements for a single agent in high-dimensional Markov dynamic optimization problems, focusing in particular on dynamic games. Our approach combines ideas from literatures in Machine Learning and the econometric analysis of games...

Persistent link: https://www.econbiz.de/10013023352

Optimal Monetary Policy in a Collateralized Economy

Gorton, Gary B. - 2016

In the last forty or so years the U.S. financial system has morphed from a mostly insured retail deposit-based system into a system with significant amounts of wholesale short-term debt that relies on collateral, and in particular Treasuries, which have a convenience yield. In the new economy...

Persistent link: https://www.econbiz.de/10012983667

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