The Nobel Prize award to scientists for thier theoretical contribution to analysis of markets with asymmetrical informations has reawakened debates on the behavior and decision-making of economic player under uncertainty. Becouse insurance is an classic example of such a situation, it is used to...

This article is dealt about present financial crisis as a result of previous credit expansion through public finance, consumer or mortgage credits above the frame tolerable of market principles. Debt problem vas mask with financial instrument innovations namely structured bonds in securing form....

The authors of the article point out that the theory of economics has failed to yield a solid theoretical background in such critical situations as the transformational period of post-communist economies and the period of the current financial and economic crisis. While classical liberal or...

¿El Perú se escapará esta vez de “la maldición de los recursos naturales”? ¿Podrá usar los abundantes recursos que genera la minería hoy, para cerrar las brechas sociales y reorientar su economía para mañana? ¿Podrá limitar los impactos ambientales y sociales negativos, que las...

Resumen: Este artículo propone una del conflicto armado a partir de un diseño evolutivo que tenga en cuenta el concepto de agencias de protección privada en las obras de Schelling / Nozick / Gambetta. Su objetivo es evaluar la dinámica del conflicto y los cambios de la producción...

This paper contributes to the economics of financial institutions risk management by exploring how loan securitization a.ects their default risk, their systematic risk, and their stock prices. In a typical CDO transaction a bank retains through a first loss piece a very high proportion of the...

It is found that the “Theory of Moves” is adequate in a Cold War scenario, with functionally equal participants, such as the Cuban Missile Crisis. The destabilization of normal incentive systems, under power and information asymmetry, is what prevents an equilibrium from being reached, as...

We study the possibility of peace when two countries fight a war over the ownership of a resource. War is always the outcome of the game played by rational countries – under complete or asymmetric information – when there is no pre-established distribution of the resource among countries....

This paper makes an attempt to present the economics of credit securitization in a nontechnical way, starting from the description and the analysis of a typical securitization transaction. The paper sketches a theoretical explanation for why tranching, or nonproportional risk sharing, which is...

Turf wars commonly occur in environments where competition undermines collaboration. We develop a game theoretic model and experimental test of turf wars. The model explores how team production incentives ex post affect team formation decisions ex ante. In the game, one agent decides whether to...