English, Article edition: MANAGER, WORKER, RENTIER AND GOVERNMENT: MARKOV AND NON-MARKOVIAN PLAY ROMAR CORREA

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Physical Description
  • article
Language
  • English

Edition details

Title
  • MANAGER, WORKER, RENTIER AND GOVERNMENT: MARKOV AND NON-MARKOVIAN PLAY
Author
  • ROMAR CORREA
Physical Description
  • article
Notes
  • We decompose the representative agent into her manager, worker and rentier selves. The criterion is the information set of each of the 'incarnations' at every stage of a repeated game. The rentier's information set includes anticipating information while the information set of the other agents is feedback. The equilibrium that results is, therefore, not subgame perfect. Enter the government that produces a good that complements the existing good. It is financed by the issue of money that substitutes for the asset. The enlargement of the state space of the game induces cooperation between the agents.
  • Markov and non-Markovian equilibrium, coordination games, JEL Classification Number: C73, JEL Classification Number: E13
  • RePEc:wsi:igtrxx:v:08:y:2006:i:03:p:429-436
Language
  • English
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