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Divide and Conquer: Noisy Communication in Networks, Power, and Wealth Distribution
Perez, Wilson - 2004
In a society composed of a ruler and its citizens: what are the determinants of the political equilibrium between these two? This paper approaches this problem as a game played between a ruler who has to decide the distribution of the aggregate income and a group of agents/citizens who have the...
Persistent link: https://www.econbiz.de/10011324912
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Information alliances in contests with budget limits
Konrad, Kai A. - 2010
We study the role of information exchange through alliances in a framework with contestants who have binding budget … for the Bayesian Nash equilibrium. Then we consider the role of information exchange through alliances. Contestants learn … alliance. Also, a merger between alliances is beneficial for their members. Further, we consider merger between alliances and …
Persistent link: https://www.econbiz.de/10010307679
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Strategic aspects of fighting in alliances
Konrad, Kai A. - 2011
This paper surveys some of the strategic aspects that emerge if players fight in an alliance against an enemy. The survey includes the free-rider problem and the hold-up problem that emerges in the baseline model, the role of supermodularity in alliance members' effort contributions, the role of...
Persistent link: https://www.econbiz.de/10010307683
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National borders, conflict and peace
Spolaore, Enrico - 2009
framework where populations fight over borders and resources, and may form non-aggression pacts, military alliances, and …
Persistent link: https://www.econbiz.de/10010276759
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Networks of Military Alliances, Wars, and International Trade
Jackson, Matthew O.; Nei, Stephen - 2014
We investigate the role of networks of military alliances in preventing or encouraging wars between groups of countries …, we show that there do not exist any networks that are stable against the addition and deletion of alliances. We then show … that economic benefits from international trade can provide incentives to form alliances in ways that restore stability and …
Persistent link: https://www.econbiz.de/10010398408
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How to talk to multiple audiences
Goltsman, Maria; Pavlov, Gregory - 2008
We analyze the performance of various communication protocols in a generalization of the Crawford-Sobel (1982) model of cheap talk that allows for multiple receivers. We find that whenever the sender can communicate informatively with both receivers by sending private messages, she can...
Persistent link: https://www.econbiz.de/10010291984
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Der Handel von Kreditrisiken: Eine neue Dimension des Kapitalmarktes
Krahnen, Jan Pieter - 2005
This paper makes an attempt to present the economics of credit securitization in a nontechnical way, starting from the description and the analysis of a typical securitization transaction. The paper sketches a theoretical explanation for why tranching, or nonproportional risk sharing, which is...
Persistent link: https://www.econbiz.de/10010298264
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Default risk sharing between banks and markets: The contribution of collateralized debt obligations
Franke, Günter; Krahnen, Jan Pieter - 2005
This paper contributes to the economics of financial institutions risk management by exploring how loan securitization a.ects their default risk, their systematic risk, and their stock prices. In a typical CDO transaction a bank retains through a first loss piece a very high proportion of the...
Persistent link: https://www.econbiz.de/10010298265
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Information acquisition in conflicts
Morath, Florian; Münster, Johannes - 2009
This paper considers incentives for information acquisition ahead of conflicts. We characterize the (unique) equilibrium of the all-pay auction between two players with one-sided asymmetric information. The type of one player is common knowledge. The type of the other player is drawn from a...
Persistent link: https://www.econbiz.de/10010306972
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Repeated contests with asymmetric information
Münster, Johannes - 2008
The same contestants often meet repeatedly in contests. Behavior in a contest potentially provides information with regard to one's type and can therefore influence the behavior of the opponents in later contests. This paper shows that if effort is observable, this can induce a ratchet effect in...
Persistent link: https://www.econbiz.de/10010307046