Essays On Network Games With Incomplete Information With Applications In Finance
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Essays On Network Games With Incomplete Information With Applications In Finance
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Author : Christian Matthew Leister
language : en
Publisher:
Release Date : 2015
Essays On Network Games With Incomplete Information With Applications In Finance written by Christian Matthew Leister and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This dissertations includes three (3) chapters, each adding to the growing network games literature that incorporates incomplete information. Financial over-the-counter markets give motivating applications. (1) "Trading Networks and Equilibrium Intermediation" studies the efficiency of trade in networks. A network of intermediaries facilitates exchange between buyers and a seller. Intermediary traders face a private trading cost, a network characterizes the set of feasible transactions, and an auction mechanism sets prices. Stable networks, which are robust to agents' collusive actions, exist when cost uncertainty is acute and multiple, independent trading relationships are valuable. A free-entry process governs the formation of equilibrium networks. Such networks feature too few intermediaries relative to the optimal market organization and they exhibit an asymmetric structure amplifying the shocks experienced by key intermediaries. (2) "Interdealer Trade: Risk, Liquidity, and the role of Market Inventory" further studies traders facing private shocks, placed in a dynamic setting. Trades between ex ante symmetric, inventory carrying intermediaries ("dealers") are motivated by divergent liquidity needs of the counter parties. Market prices and asset flows are pinned by dealers' indifference between providing intermediation services and retaining liquidity to be utilized in subsequent interdealer markets. More active interdealer markets simultaneously increase the value to intermediation and the option-value to providing these services. Under infrequent shocks, interdealer trade boosts the availability of liquidity in the broader market. This boost decays with market inventory, which serves as a constraint on interdealer activity. Through this market mechanism, prices vary inversely with both search frictions between dealers and on their total current holdings. (3) "Information Acquisition and Response in Peer-effects Networks" endogenizes the quality of information that market participants carry in a general peer effects model. When pairwise peer effects are symmetric, asymmetries in acquired information are inefficiently low relative to the utilitarian benchmark. And with information privately acquired, all players face strictly positive gains to overstating their informativeness as to strategically influence the beliefs and behaviors of neighbors. If strategic substitutes in actions are present and significant, low centrality players move against their signals in anticipation of their neighbors' actions. A blueprint for optimal policy design is developed. Applications to market efficiency in financial crises and two-sided markets are discussed.
Essays On Game Theory Mechanism Design And Financial Economics
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Author : Thomas Rivera
language : en
Publisher:
Release Date : 2020*
Essays On Game Theory Mechanism Design And Financial Economics written by Thomas Rivera and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020* with categories.
Essays On Competitive Behavior In Games Of Incomplete Information
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Author : Jungwook Kim (Economist)
language : en
Publisher:
Release Date : 2007
Essays On Competitive Behavior In Games Of Incomplete Information written by Jungwook Kim (Economist) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
American Doctoral Dissertations
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Author :
language : en
Publisher:
Release Date : 2002
American Doctoral Dissertations written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Dissertation abstracts categories.
Twenty Lectures On Algorithmic Game Theory
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Author : Tim Roughgarden
language : en
Publisher: Cambridge University Press
Release Date : 2016-09-01
Twenty Lectures On Algorithmic Game Theory written by Tim Roughgarden and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-01 with Computers categories.
Computer science and economics have engaged in a lively interaction over the past fifteen years, resulting in the new field of algorithmic game theory. Many problems that are central to modern computer science, ranging from resource allocation in large networks to online advertising, involve interactions between multiple self-interested parties. Economics and game theory offer a host of useful models and definitions to reason about such problems. The flow of ideas also travels in the other direction, and concepts from computer science are increasingly important in economics. This book grew out of the author's Stanford University course on algorithmic game theory, and aims to give students and other newcomers a quick and accessible introduction to many of the most important concepts in the field. The book also includes case studies on online advertising, wireless spectrum auctions, kidney exchange, and network management.
The Elgar Companion To Information Economics
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Author : Daphne R. Raban
language : en
Publisher: Edward Elgar Publishing
Release Date : 2024-03-14
The Elgar Companion To Information Economics written by Daphne R. Raban and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-14 with Business & Economics categories.
The Elgar Companion to Information Economics dexterously navigates this interdisciplinary field of research which celebrates the crucial contribution of information to decision making, market dynamics, and economic well-being. Offering a wealth of conceptual analysis, this erudite Companion embarks on an intellectual journey exploring the fundamentals of information economics. This title contains one or more Open Access chapters.
Comprehensive Dissertation Index
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Author :
language : en
Publisher:
Release Date : 1989
Comprehensive Dissertation Index written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Dissertations, Academic categories.
Missing Out
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Author : Adam Phillips
language : en
Publisher: Penguin UK
Release Date : 2012-06-07
Missing Out written by Adam Phillips and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-07 with Psychology categories.
Missing Out is a meditation on reality and opportunity by Adam Phillips. We all have two lives - the life we live and the life of our fantasies. But it is the life unlived - the person we have failed to be - that can trouble and even haunt us. In Missing Out acclaimed psychoanalyst Adam Phillips delves into the gap between who we are and who we are not, to discover whether not getting what we want may be the unlikely key to the fully lived life. Praise for Adam Phillips: '"Phillipsian" would evoke a vivid, paradoxical style that led you to think that you had picked up an idea by the head, only to find you were holding it by the tail' Lisa Appignanesi, Guardian 'He's brilliant' John Carey 'Phillips radiates infectious charm' Sunday Times Adam Phillips is a psychoanalyst and the author of several previous books, all widely acclaimed, including On Kissing, Tickling and Being Bored, Going Sane and Side Effects. His most recent book is On Kindness, which was co-written with historian Barbara Taylor.
A Game Theoretic Perspective On Coalition Formation
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Author : Debraj Ray
language : en
Publisher: OUP Oxford
Release Date : 2007-11-01
A Game Theoretic Perspective On Coalition Formation written by Debraj Ray and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-01 with Business & Economics categories.
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. The formation of coalitions to achieve both collaborative and competitive goals is a phenomenon we see all around us. The list is long and varied: production cartels, political lobbies, customs unions, environmental coalitions, and ethnic alliances are just a few everyday instances. Drawing upon and extending his inaugural Lipsey Lectures at the University of Essex, Debraj Ray looks at coalition formation from the perspective of game theory. How are agreements determined? Which coalitions will form? And are such agreements invariably efficient from a social perspective? Ray brings together developments in both cooperative and noncooperative game theory to study the analytics of coalition formation and binding agreements. This book concentrates on pure theory, but discusses several potential applications, such as oligopoly and the provision of public goods.
The College Buzz Book
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Author : Carolyn C. Wise
language : en
Publisher: Vault Inc.
Release Date : 2007-03-26
The College Buzz Book written by Carolyn C. Wise and has been published by Vault Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-03-26 with College students categories.
Many guides claim to offer an insider view of top undergraduate programs, but no publisher understands insider information like Vault, and none of these guides provides the rich detail that Vault's new guide does. Vault publishes the entire surveys of current students and alumni at more than 300 top undergraduate institutions. Each 2- to 3-page entry is composed almost entirely of insider comments from students and alumni. Through these narratives Vault provides applicants with detailed, balanced perspectives.