that the regime survived past attacks. This interaction also generates interesting equilibrium properties, such as the …

This paper examines the ability of a policy maker to control equilibrium outcomes in an environment where market … policy are dictated by self-fulfilling market expectations. Despite equilibrium multiplicity, robust policy predictions can …

market. The game is designed in such a way that a stable equilibrium configuration exists and does not depend on conditions … such as initial configuration or order of move. We test whether the theoretical equilibrium is obtained under experimental … find that players are remarkably good at attaining a stable equilibrium configuration, which happens in 86% of the games …

technologies. Equilibrium extraction is too large and comes too early for public resources, but the opposite is true for private …

can withdraw from the market after initial contract offers have been observed. We show that a subgame perfect equilibrium … always exists and that, in fact, when withdrawal is costless, the set of subgame perfect equilibrium outcomes may correspond … robust equilibrium outcome of our game. This outcome is always constrained efficient and involves cross-subsidization from …

equilibrium where both types of these equilibria could coexist. Our analyses of the social welfare under each equilibrium shed … drive the market to the dishonest equilibrium with lower social welfare. The need for screening signallers could drive up …