University of Illinois Urbana-Champaign

Time, Uncertainty, and Conflict: Three Essays on Economic Dynamics

Guzman-Garcia, Rolando Moises

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Description

Title
Time, Uncertainty, and Conflict: Three Essays on Economic Dynamics
Author(s)
Guzman-Garcia, Rolando Moises
Issue Date
1997
Doctoral Committee Chair(s)
Bart Taub
Department of Study
Economics
Discipline
Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, Finance
Language
eng
Abstract
The third essay studies the interaction of a group of economic agents whose wealth cannot be completely insured, so that bankruptcy can occur. The stochastic behavior of the wealth is described by a diffusion process whose behavior depends on the actions of all agents. Each player should select a strategy in which the immediate benefit of her actions is balanced with the effects on the bankruptcy probability. The paper characterizes the Markovian Nash equilibrium of this dynamic game, and illustrates different situation to which the result might be applied.
Graduation Semester
1997
Type of Resource
text
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http://hdl.handle.net/2142/85623

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