When public long-term care (LTC) insurance is provided by insurers, they typically lack incentives for purchasing cost-effective LTC. Providing insurers with appropriate incentives for efficiency without jeopardizing access for high-risk individuals requires, among other things, an adequate...

Risk of stock collapse is a genuine motivation for cooperative fisheries management. We analyse the effect of an endogenously determined risk of stock collapse on the incentives to cooperate in a Great Fish War model. We establish that equilibrium harvest strategies are non-linear in stock and...

This paper examines how cooperation in an insurance game depends on risk preferences and the riskiness of income. It considers a dynamic game where commitment is limited, and characterizes the level of cooperation as measured by the reciprocal of the discount factor above which perfect risk...

We introduce learning in a dynamic game of international pollution, with ecological uncertainty. We characterize and compare the feedback non-cooperative emissions strategies of players when the players do not know the distribution of ecological uncertainty but they gain information (learn)...

We study investment and consumption decisions in a dynamic game under learning. To that end, we present a model in which agents not only extract a resource for consumption, but also invest in technology to improve the future stock. At the same time, the agents learn about the stochastic process...

We analyze the quantitative asset-pricing implications of peers' strategic rivalry by embedding oligopolistic competition within an endowment economy. Rivalry intensity increases endogenously as the discount rate rises or expected growth declines, because peers care less about future...

We analyze strategic relationships between buyers and sellers in markets with switching costs and dynamic uncertainty by investigating the scenario wherein a representative buyer trades with two foreign sellers located in the same foreign country. We show that, under exchange rate uncertainty,...

This is the supplemental material to the paper titled "The Oligopoly Lucas Tree: Consumption Risk and Industry-Level Risk Exposure." It includes additional empirical, theoretical, and quantitative results. It also includes illustration for the numerical algorithm for our model solution