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

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.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Economics

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2015

Author dc:creator

• Guzman-Garcia, Rolando Moises

Contributors dc:contributor

• Bart Taub

• Economics, Finance

Language dc:language

eng

Identifier

(MiAaPQ)AAI9812608

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/85623