Work detail

Creditor coordination model - discrete case and limit behaviour

Author: Bc. Jan Šedek
Year: 2013 - summer
Leaders: doc. RNDr. Ondřej Kalenda Ph.D., DSc.
Work type: Bachelors
Language: Czech
Pages: 50
Awards and prizes:
Abstract: This thesis concerns with the theory of global games, in particular its ap- plication to creditor’s coordination models. Several variants of these models are introduced throughout the text. All of the variants are based on the as- sumption of the finite number of players. This is rather unusual, because the literature on creditor coordination models mainly builds on the assumption of a continuum of players. We firstly describe the model for two players then we generalize it to the symmetric n-player model. After that, we analyze the limit behavior of n-player symmetric model and show the convergence of the model to the model, which is based on the assumption of a continuum of players. The thesis then deals with the asymmetric models of one big and other small players. An analysis of existence and uniqueness of equilibrium is attached to the solution of the models, where the analysis turns out to be feasible.


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