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Multiple Equilibria in Morris and Shin Model (2002)
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- Authors
- Issue Date
- 2016-12
- Publisher
- 서울대학교 경영대학 경영연구소
- Citation
- 경영논집, Vol.50, pp. 157-168
- Abstract
- This note reconsiders the model of Morris and Shin (2002). We show that when the random variable of interest is generated by two independent pieces of uncertainty, there are multiple equilibria. Moreover, the social welfare is increasing in the precision of the public information.
- ISSN
- 2384-2849
- Language
- English
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