analysis demonstrates that the predominance of formalism, particularly, partial equilibrium analysis along with the exclusion … attempts to conceptualize and price systemic risk as a negative externality point to the persistence of formalism and … equilibrium thinking, with its attending dangers of incremental innovation due to epistemological barriers constrains theoretical …

transfers. We develop an effcient algorithm to compute the set of pure strategy public perfect equilibrium payoffs for each … discount factor. We also show how all equilibrium payoffs can be implemented with a simple class of stationary equilibria that …