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Incomplete information in macroeconomics : accommodating frictions in coordination
Angeletos, Marios; Lian, Chen - 2016
games, beauty contests, and their applications. We elaborate on the distinct effects of strategic uncertainty relative to … fundamental uncertainty. We demonstrate the potential fragility of workhorse macroeconomic models to relaxations of common …
Persistent link: https://www.econbiz.de/10011573121
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Chapter 14. Incomplete Information in Macroeconomics : Accommodating Frictions in Coordination
Angeletos, G.-M.; Lian, C. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 1065-1240). 2016
games, beauty contests, and their applications. We elaborate on the distinct effects of strategic uncertainty relative to … fundamental uncertainty. We demonstrate the potential fragility of workhorse macroeconomic models to relaxations of common …
Persistent link: https://www.econbiz.de/10014024269
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Contracts as reference points : experimental evidence
Fehr, Ernst (contributor); Hart, Oliver D. (contributor);  … - 2008
tradeoff between rigidity and flexibility in a trading environment with incomplete contracts and ex ante uncertainty about the …
Persistent link: https://www.econbiz.de/10003793317
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Contracts as Reference Points : Experimental Evidence
Fehr, Ernst - 2009
tradeoff between rigidity and flexibility in a trading environment with incomplete contracts and ex ante uncertainty about the …
Persistent link: https://www.econbiz.de/10012765614
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Panic bank runs
Kiss, Hubert János; Rodríguez-Lara, Ismael; … - 2017
We provide experimental evidence that panic bank runs occur in the absence of problems with fundamentals and coordination failures among depositors, the two main culprits identified in the literature. Depositors withdraw when they observe that others do so, even when theoretically they should...
Persistent link: https://www.econbiz.de/10011684569
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Firm decisions under jump-diffusive dynamics
Deopa, Neha; Rinaldo, Daniele - 2019
We present a model of firm investment under uncertainty and partial irreversibility in which uncertainty is represented … by a jump diffusion. This allows to represent both the continuous Gaussian volatility and the discontinuous uncertainty … related to information arrival, sudden changes and large shocks. The model shows how both sources of uncertainty negatively …
Persistent link: https://www.econbiz.de/10011987374
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Escape from model-land
Thompson, Erica L.; Smith, Leonard A. - 2019
-world quantities with transparent uncertainty quantification, than when based on “optimal” model-land quantities obtained from …
Persistent link: https://www.econbiz.de/10012110757
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A Wake-Up Call : Information Contagion and Strategic Uncertainty
Ahnert, Toni - 2015
attacks via heightened strategic uncertainty among speculators. Contagion occurs even if speculators learn that there is no …
Persistent link: https://www.econbiz.de/10013034607
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Minimax Regret and Strategic Uncertainty
Renou, Ludovic - 2009
This paper introduces a new solution concept, a minimax regret equilibrium, which allows for the possibility that players are uncertain about the rationality and conjectures of their opponents. We provide several applications of our concept. In particular, we consider price-setting environments...
Persistent link: https://www.econbiz.de/10012720577
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Government and Central Bank Interaction Under Uncertainty : A Differential Games Approach
Engwerda, Jacob C. - 2016
monetary authorities should deal with this uncertainty is very important. Especially for some developing countries such as Iran …, in which on average 60 percent of government revenues comes from oil, and consequently uncertainty about oil prices has a …-response policy configuration if policymakers are confronted with uncertainty seems to depend on the level of anticipated uncertainty …
Persistent link: https://www.econbiz.de/10012995799