avviso seminario

[ANITA@eco.unipv.it]

Universita degli Studi di Pavia
Dipartimento di Economia Politica e Metodi Quantitativi




SEMINARI DI STATISTICA




William D. Sudderth

School of Statistics, University of Minnesota





A Strategic Market Game with Secured Lending


Giovedi', 12 Settembre 1996, ore 16.00



Summary:

  The existence of a stationary Markov equilibrium is studied for a 
classof noncooperative, stochastic games that model an economy with one 
non-durable good, fiat money, borrowing and lending through a central 
bank ora money market, and a continuum of agents. The games are 
"playable" inthe sense that the dynamics are completely specified and, 
for versionswith finitely many agents, they can be simulated.
  Several examples will be given along with a few theorems and some open 
questions.
  The talk is based on joint work with Ioannis Karatzas and Martin 
Shubik.








Anita Ferrario
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Economia Politica e M. Q.
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