Menu Content/Inhalt
Seminars Print
previous year previous month next month next year
See by year See by month See by week See Today Search Jump to month
Juuso Välimäki, University of Helsinki Print
Tuesday, 06 December 2011, 14:00 - 15:15

Juuso Välimäki, University of Helsinki

Delay and Information Aggregation in Stopping Games with Private Information

Abstract: We consider equilibrium timing decisions in a model with informational externalities. A number of players have private information about a common payo§ parameter that determines the optimal time to invest. The players learn from each other in a continuous-time multi-stage game by observing the past investment decisions. We characterize the symmetric equilibria of the game and we show that even in large games where pooled information is su¢ ciently accurate for first best decisions, aggregate randomness in outcomes persists. Furthermore, the best symmetric equilibrium induces delay relative to the first best.

Location: R42.2.113
Contact: Claude Adan, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Back