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We propose a unified framework to study relational contracting and hold-up problems in infinite horizon stochastic games. We first illustrate that with respect to long run decisions, the common formulation of relational contracts as Pareto-optimal public perfect equilibria is in stark contrast...
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We analyze dynamic price competition in a homogeneous goods duopoly, where consumers exchange information via word-of-mouth communication. A fraction of consumers, who do not learn any new information, remain locked-in at their previous supplier in each period. We analyze Markov perfect...
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This volume covers the proceedings of the ZAFIN Finance and Sustainability conference, organized by the Wroclaw … authors analyze a variety of issues related to recent finance problems, including corporate finance, public finance, monetary … and fiscal policy issues, and risk management. The book also discusses topics related to sustainable finance, the …
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the theory and practice of public finance and public policy. They address the evolving role of government and the welfare …
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