Equilibrium Selection in Games with Macroeconomic Complementarities
Oddvar Kaarboe and
Norway; Department of Economics, University of Bergen from Department of Economics, University of Bergen
We apply the stochastic evolutionary approach of equilibrium selection to macroeconomic models in which a complementarity at the macro level is present. These models often exhibit multile Pareto-ranked Nash equilibria , and the best response-correspondence of an individual increases with a measure of the aggregate state of the economy.
Keywords: GAME THEORY; MACROECONOMICS; MATHEMATICAL ANALYSIS (search for similar items in EconPapers)
JEL-codes: C63 C72 C73 L16 (search for similar items in EconPapers)
References: Add references at CitEc
Citations View citations in EconPapers (4) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:fth:bereco:2199
Access Statistics for this paper
More papers in Norway; Department of Economics, University of Bergen from Department of Economics, University of Bergen Department of Economics, University of Bergen Fosswinckels Gate 6. N-5007 Bergen, Norway. Contact information at EDIRC.
Series data maintained by Thomas Krichel ().