Séminaires

EVEN UP: MAINTAINING RELATIONSHIPS

Economie et Sciences de la décision

Intervenant : Larry Samuelson
Yale

14 avril 2016 - T015 - De 14h00 à 15h00

Télécharger

When are economic interactions mediated by prices and transfers, and when are
they mediated by variations in the continuation payoffs within a relationship? To address this
question, we examine a relationship between two players who periodically face opportunities
to undertake randomly generated \projects" that impose a cost on one player and a benefit on
the other, as well as opportunities to make voluntary transfers to one another. We characterize
the set of equilibria, with particular emphasis on the efficient frontier. In the absence of
transfers, incentives are often created by adjusting the continuation values of the relationship,
sometimes increasing player 1's continuation payoff (to induce player 1 to accept a particularly
costly current project) and sometimes increasing player 2's continuation payoff. In contrast,
once transfers enter the picture, continuation payffs maximize the sum of the two players'
payoffs, no matter how asymmetric the point on the Pareto frontier under consideration.
However, transfers can also be relatively rare, and in particular can occur less often than
the adjustments in continuation values that occur without transfers. Players thus rely on
transfers to create incentives, but manage to do so while rarely making transfers.

Titre : TBA

Economie et Sciences de la décision

Intervenant : Claire Lelarge
Paris Sud

10 septembre 2019 - HEC Campus


Titre : TBA

Economie et Sciences de la décision

Intervenant : Larry Samuelson
Yale

13 juin 2019 - HEC Campus


Titre : TBA

Economie et Sciences de la décision

Intervenant : Gaetano Gaballo
Banque de France & PSE

19 mars 2019 - HEC Campus


Titre : TBA

Economie et Sciences de la décision

Intervenant : Diego Puga
CEMFI

12 mars 2019 - HEC Campus


Titre : TBA

Economie et Sciences de la décision

Intervenant : Daniel Chen
Toulouse School of Economics

21 février 2019 - HEC Campus



JavaScriptSettings