On Myopic Equilibria in Dynamic Games with Endogenous Discounting /

This paper derives an equilibrium for a competitive multi-stage game in which an agents' current action influences his probability of survival into the next round of play. This is directly relevant in banking, where a banks' current lending and pricing decisions determines its future proba...

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Bibliografiske detaljer
Hovedforfatter: Bolt, Wilko
Andre forfattere: Tieman, Alexander
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2006.
Serier:IMF Working Papers; Working Paper ; No. 2006/302
Fag:
WP
Online adgang:Full text available on IMF
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245 1 0 |a On Myopic Equilibria in Dynamic Games with Endogenous Discounting /  |c Wilko Bolt, Alexander Tieman. 
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300 |a 1 online resource (16 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper derives an equilibrium for a competitive multi-stage game in which an agents' current action influences his probability of survival into the next round of play. This is directly relevant in banking, where a banks' current lending and pricing decisions determines its future probability of default. In technical terms, our innovation is to consider a multi-stage game with endogenous discounting. An equilibrium for such a multi-stage game with endogenous discounting has not been derived before in the literature. 
538 |a Mode of access: Internet 
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700 1 |a Tieman, Alexander. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2006/302 
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