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Intraday liquidity management: a tale of games banks play

Bech, Morten L. - In: Economic Policy Review (2008) Sep, pp. 7-23

Over the last few decades, most central banks, concerned about settlement risks inherent in payment netting systems, have implemented real-time gross settlement (RTGS) systems. Although RTGS systems can significantly reduce settlement risk, they require greater liquidity to smooth...

Persistent link: https://www.econbiz.de/10005372889

Illiquidity in the interbank payment system following wide-scale disruptions

Bech, Morten L.; Garratt, Rod - Federal Reserve Bank of New York - 2006

We show how the interbank payment system can become illiquid following wide-scale disruptions. Two forces are at play in such disruptions-operational problems and changes in participants' behavior. We model the interbank payment system as an n-player game and utilize the concept of a potential...

Persistent link: https://www.econbiz.de/10005726645

Settlement delays in the money market

Bartolini, Leonardo; Hilton, Spence; McAndrews, James - Federal Reserve Bank of New York - 2008

We track 38,000 money market trades from execution to delivery and return to provide a first empirical analysis of settlement delays in financial markets. In line with predictions from recent models showing that financial claims are settled strategically, we document a tendency by lenders to...

Persistent link: https://www.econbiz.de/10005726662

A theory of reciprocity

Falk, Armin; Fischbacher, Urs - 2001

This paper presents a formal theory of reciprocity. Reciprocity means that people reward kind actions and punish unkind ones. The theory takes into account that people evaluate the kindness of an action not only by its consequences but also by the intention underlying this action. The theory...

Persistent link: https://www.econbiz.de/10011398368

Can being behind get you ahead? : reference dependence and asymmetric equilibria in an unfair tournament

Bergerhoff, Jan; Vosen, Agnes - 2015

Everyone remembers a plot where a disadvantaged individual facing the prospect of failure, spends more effort, turns around the game and wins unexpectedly. Most tournament theories, however, predict the opposite pattern and see the disadvantaged agent investing less effort. We show that 'turn...

Persistent link: https://www.econbiz.de/10011430528

How stressful are economic competitions in the lab? : an investigation with physiological measures

Buckert, Magdalena; Schwieren, Christiane; Kudielka, … - 2015

Competition is ubiquitous in economic life. Yet, negative consequences of competitive environments have been reported … subjectively perceived stress and the physiological changes induced by a well-established economic laboratory competition paradigm … active coping style were related to the self-selection into competition in the third round of the game. We speculate that …

Persistent link: https://www.econbiz.de/10011281639

Complete versus partial collusion in competing coalitions

Palsule-Desai, Omkar D. - In: International game theory review 17 (2015) 1, pp. 1-43

Persistent link: https://www.econbiz.de/10010526716

Supply chain contracting under competition : bilateral bargaining vs. Stackelberg

Feng, Qi; Lu, Lauren Xiaoyuan - In: Production and operations management : an international … 22 (2013) 3, pp. 661-675

Persistent link: https://www.econbiz.de/10009760424

Product differentiation and collusion sustainability when collusion is costly

Colombo, Stefano - In: Marketing science : the marketing journal of the … 32 (2013) 4, pp. 669-674

Persistent link: https://www.econbiz.de/10009787928

Complementary goods : creating, capturing, and competing for value

Yalcin, Taylan; Ofek, Elie; Koenigsberg, Oded; … - In: Marketing science : the marketing journal of the … 32 (2013) 4, pp. 554-569

Persistent link: https://www.econbiz.de/10009787939

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