from changes in U.S. growth, monetary and fiscal policies, and uncertainty in its financial markets and economic policies … developing economies that rely heavily on external financing. In addition, lingering uncertainty about the course of U …

from changes in U.S. growth, monetary and fiscal policies, and uncertainty in its financial markets and economic policies … developing economies that rely heavily on external financing. In addition, lingering uncertainty about the course of U …

takes time and is subject to uncertainty. Also, firms must use the financial system in order to buy inputs; the cost of … credit may differ among countries and industries, reflecting their basic patterns of uncertainty. Following the Newbery …-Stiglitz approach, we show that in such model we may exhibit cases of Pareto inferior trade and, in particular, Pareto inferior economic …

The purpose of this paper is to explore strategic incentives to use trade networks rather than markets and to shed … of networks. We investigate the issues by mainly focusing on the role of matching in a trade network. The existing … conditions under which agents prefer to trade on networks rather than in markets. -- Trade networks ; Repeated games ; Matching …

knowledge is confronted with several obstacles, which can be characterized as different facets of uncertainty. They are included … uncertainty. Potential traders often rely on contractual options, especially licensing agreements, and complementary procedural … principles facilitating the trade of patents. …

The purpose of this paper is to explore strategic incentives to use trade networks rather than markets and shed light … trading system. The study states conditions under which agents prefer to trade on networks rather than in markets. -- Repeated … trade ; Moral hazard ; Matching ; Transaction costs ; Networks ; Institutions …