The problem of arising the Pareto inefficient norm in relations “investor – government” type
AbstractThe article deals with problem of forming of Pareto non-optimal norms of mutual behavior of investors and government in the process of decision-making related to financing of reduction of risks of investment activity in economy. The game-theoretical analysis suggests that inefficiency of arising norms is non-casual; it follows from the behavior of interactive parties. Empirical verification based on statistical data of OECD countries confirms in general the established conclusion.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 44745.
Date of creation: Feb 2013
Date of revision:
investors; government; economic behavior; game theory; Nash equilibrium; Pareto-optimality;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-16 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Charness, Gary & Cobo-Reyes, Ramón & Jiménez, Natalia, 2008.
"An investment game with third-party intervention,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 68(1), pages 18-28, October.
- Charness, Gary B & Cobo-Reyes, RamÃ³n & JimÃ©nez, Natalia, 2007. "An investment game with third-party intervention," University of California at Santa Barbara, Economics Working Paper Series qt7qg338r3, Department of Economics, UC Santa Barbara.
- Gary Charness & Ramón Cobo-Reyes & Natalia Jiménez, 2006. "An investment game with third-party intervention," ThE Papers 06/13, Department of Economic Theory and Economic History of the University of Granada..
- Pflug, Georg Ch. & Pichler, Alois & Wozabal, David, 2012. "The 1/N investment strategy is optimal under high model ambiguity," Journal of Banking & Finance, Elsevier, vol. 36(2), pages 410-417.
- G. Coricelli & L.G. Morales & A. Mahlstedt, .
"The investment game with asymmetric information,"
Papers on Strategic Interaction
2003-29, Max Planck Institute of Economics, Strategic Interaction Group.
- Dennis Dittrich & Werner Güth & Boris Maciejovsky, .
"Overconfidence in Investment Decisions: An Experimental Approach,"
Papers on Strategic Interaction
2001-03, Max Planck Institute of Economics, Strategic Interaction Group.
- Dennis Dittrich & Werner Guth & Boris Maciejovsky, 2005. "Overconfidence in investment decisions: An experimental approach," The European Journal of Finance, Taylor & Francis Journals, vol. 11(6), pages 471-491.
- Dennis Dittrich & Werner Güth & Boris Maciejovsky, 2001. "Overconfidence in Investment Decisions: An Experimental Approach," CESifo Working Paper Series 626, CESifo Group Munich.
- Amos Tversky & Daniel Kahneman, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Levine's Working Paper Archive
7656, David K. Levine.
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March.
- Anand, Paul & Cowton, Christopher J., 1993. "The ethical investor: Exploring dimensions of investment behaviour," Journal of Economic Psychology, Elsevier, vol. 14(2), pages 377-385, June.
- Jean Tirole, 2012. "Overcoming Adverse Selection: How Public Intervention Can Restore Market Functioning," American Economic Review, American Economic Association, vol. 102(1), pages 29-59, February.
- Koralai Kirabaeva, 2011. "Adverse Selection and Financial Crises," Bank of Canada Review, Bank of Canada, vol. 2010(Winter), pages 11-19.
- Daniel, Kent & Hirshleifer, David & Teoh, Siew Hong, 2002. "Investor psychology in capital markets: evidence and policy implications," Journal of Monetary Economics, Elsevier, vol. 49(1), pages 139-209, January.
If references are entirely missing, you can add them using this form.