麻省理工MIT(微观经济学)lec11_Global games.pdfVIP

MIT 14.123 (2009) by Peter Eso Lecture 11: Global Games 1. A Contribution Game 2. Carlsson van Damme (ECMA, 1993) 3. Morris Shin (1998) Read: Assigned reading (C-vD’92, M-S’98) Motivation • Economic phenomena where outcomes vary in otherwise similar environments (apparent multiplicity of equilibria?): – Joint investment / partnerships – Bank runs – Currency attacks – Electoral competition … • Explanation: Strategic complementarity and multiple equilibria; coordination