Dynamic coordination with timing frictionstheory and applications
Guimarães, Bernardo de Vasconcellos; Machado, Caio Henrique; Pereira, Ana Elisa Gonçalves
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Resumo
We start by presenting the general model of dynamic coordination with timing frictions and some key theoretical results. We prove the model features a unique rationalizable equilibrium, present a method to solve the social planner problem and derive expressions for the equilibrium threshold in limiting cases. With this toolkit in hand, we get analytical results for a case with linear preferences and present several applications, ranging from network externalities to statistical discrimination and to macroeconomics. Besides generating insights for speci c questions, the applications illustrate the potential of the model to accommodate a large set of economic problems. Last, we show extensions of the framework that allow for endogenous hazard rates, preemption motives and ex-ante heterogeneous agents.
Ficha do documento
- Tipo
- Estudo
- Ano
- 2017
- Instituição
- Escola de Economia de São Paulo
- Fonte
- Repositório da FGV
- Idioma
- Inglês
- Acesso
- Acesso aberto
- Identificador
- oai:repositorio.fgv.br:10438/18814
- Temas
- Economia
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