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  • 标题:A THEORY OF GLOBAL GAMES AND FINANCIAL MARKET
  • 本地全文:下载
  • 作者:Gabriela Prelipcean
  • 期刊名称:Annals of the University of Oradea : Economic Science
  • 印刷版ISSN:1222-569X
  • 电子版ISSN:1582-5450
  • 出版年度:2003
  • 卷号:XII
  • 出版社:University of Oradea
  • 摘要:A lot of economic problems are naturally modeled as a game of incomplete information, where player’s payoff depends on his own action, the actions of others and some unknown economic fundamentals. Global games present a user-friendly face of games with incomplete information. The potential daunting task of forming an infinite hierarchy of beliefs over the actions of all players in the game can be given a representation in terms of beliefs (and the behaviour that they elicit) which are simple to the point of being naïve. Global games go some way to bridging the gap between those who believe that rigorous game theory has a role in economics (as we do) and those who insist on tractable and usable tools for applied economic analysis.
  • 关键词:currency crises, global games, common knowledge, coordination, multiple equilibrium
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