East Asia Through a Glass Darkly: Disparate Lenses on the Road to Damascus" This paper asks whether the Asian Crisis was a failure of Asian capitalism, or a failure of market capitalism. It begins with a stylized chronology of events that is broadly consistent with either hypothesis. It then...

A generalization of the Cauchy-Schwarz inequality for expectations of matrices is proved.

Two approaches to equilibrium selection are contrasted in the context of an investment-opportunism-retaliation (IOR) game. In this game, a valuable (efficient) investment may be forgone in the face of opportunistic behavior, however, players who are victims of opportunism may retaliate to the...