19 research outputs found
Reversibility in Dynamic Coordination Problems
Agents at the beginning of a dynamic coordination process (1) are uncer-tain about actions of their fellow players and (2) anticipate receiving strategi-cally relevant information later on in the process. In such environments, the (ir)reversibility of early actions plays an important role in the choice among them. We characterize the strategic effects of the reversibility option on the coordination outcome. Such an option can either enhance or hamper efficient coordination, and we determine the direction of the effect based only on simple features of the coordination problem. The analysis is based on a generaliza-tion of the Laplacian property known from static global games: players at the beginning of a dynamic game act as if they were entirely uninformed about aggregate play of fellow players in each stage of the coordination process. JEL classification: C7, D8
Výzkum tajných dohod na trhu s benzínem
This paper describes and surveys in a comprehensive way theoretical and empirical tools that might be used tu analyze pricing mechanisms on gasoline markets
Mezinárodní konkurence vertikálně diferencovaných trhů s inovací a imitací: vlivy obchodní politiky
We analyze the domestic welfare implications of trade policies in a less developed country whose firm competes with the firm from a developed country in the domestic market