Cowles Foundation for Research in Economics

INCOMPLETE MARKETS AND STRATEGIC MARKET GAMES

April 28–29, 2001

Organizers: Martin Shubik and John Geanakoplos

SATURDAY, APRIL 28th
8:15–8:50 Light Breakfast

8:50

 Very brief introduction (John Geanakoplos and Martin Shubik)
9:00–10:30

 

 Michael Magill (with John Geanakoplos and Martine Quinzii), "Demography and the Long-Run Predictability of the Stock Market"
Rohit Rahi (with Piero Gottardi), "Efficiency Properties of Rational Expectations Equilibria with Asymmetric Information"
Martine Quinzii (with Michael Magill), "The Stock Market in the Overlapping Generations Model with Production"

11:00–12:30

 

 James Peck, "Equilibrium Bank Runs"
Massimo Morelli (with Sayantan Ghosal), "Retrading in Market Games"
Ross Starr, "Why Is There Money? Endogenous Derivation of 'Money' as the Most Liquid Asset: A Class of Examples"
12:30–1:30 Buffet Lunch
1:30–3:00 Nobuhiro Kiyotaki, "Inside Money, Liquidity and Asset Price"
Herakles Polemarchakis (with T. Nakajima), "Financial Policy and the Price Level"
Piero Gottardi (with A. Bisin), "When Are Asymmetric Information Economies Walrasian?"
3:30–5:00 Lloyd Shapley, "Nonatomic Games in Strategic Form"
Jean-François Mertens, Comments
Pradeep Dubey (with John Geanakoplos), "Debt Seniority and Insurance Contracts"
6:30 Cocktails and Dinner at Mory's, 306 York Street, New Haven

SUNDAY, APRIL 29th
8:15–9:00 Light Breakfast
9:00–10:30 William Sudderth, "The Inflationary Bias in a Simple Stochastic Exchange Economy"
Kai Nagel (with Martin Shubik), "Stability Conditions for a Dynamic Market Simulation Model"
Per Bak, "The Dynamics of Money"
11:00–12:30 John Geanakoplos, "Pareto Improving Taxes"
Martin Shubik, "Merchant Bankers and the Central Bank"
Dimitrios Tsomocos, "Equilibrium Analysis, Banking and Financial Instability"
Nicolae Garleanu, "Valuation in Dynamic Bargaining Markets"
12:30–1:30 Buffet Lunch