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An Evolutionary Model Of Debt

Author

Listed:
  • Kislaya Prasad

    (Florida State University)

  • Mary Burke

    (Florida State University)

Abstract

A reputational model of debt is examined from an evolutionary game perspective. The game is played between randomly matched opponents and we ask whether debt can be supported in the long run steady state when lenders are given the option of joining an information sharing coalition. The players are forward-looking, but otherwise not very sophisticated. The paper uses a mix of analytical and computational methods and we actually simulate such an economy and examine long run steady states. Conclusions are drawn about the nature of institutions that support debt.

Suggested Citation

  • Kislaya Prasad & Mary Burke, 2000. "An Evolutionary Model Of Debt," Computing in Economics and Finance 2000 82, Society for Computational Economics.
    • Handle: RePEc:sce:scecf0:82
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    Cited by:

    1. is not listed on IDEAS
    2. Mohammed Aliu Momoh & Maurice Aghedo, 2018. "Public Private Partnership, Infrastructure Guarantee and Sovereign Debt Default," Romanian Economic Business Review, Romanian-American University, vol. 13(1), pages 25-34, March.
    3. Thierry Vignolo, 2010. "Imitation and selective matching in reputational games," Journal of Evolutionary Economics, Springer, vol. 20(3), pages 395-412, June.

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