Sunanda Roy

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Under some conditions, parameterized games with strategic substitutes exhibit monotone comparative statics of equilibria. These conditions relate to a tradeoff between a direct parameter effect and an opposing, indirect strategic substitute effect. If the indirect effect does not dominate the direct effect, monotone comparative statics of equilibria are(More)
In games with strategic substitutes (GSS), convergence of the best response dynamic starting from the inf (or sup) of the strategy space is equivalent to global stability (convergence of every adaptive dynamic to the same pure strategy Nash equilibrium). Consequently, in GSS, global stability can be analyzed using a single best response dynamic. Moreover,(More)
Recent developments in voting theory show that Condorcet profiles embedded in electorates are responsible for conflicts between pairwise voting methods and for reversals of rankings under positional methods whenever candidates are dropped or added. Because of the strong symmetry of the rankings of the candidates within these profiles, it can be argued that(More)
Condorcet profiles are responsible for a number of well known preference aggregation paradoxes. It is reasonable to claim that these profiles represent complete ties between the candidates and should therefore be excluded to determine election outcomes. Established profile decomposition techniques are of limited usefulness in extracting and removing(More)
New insights into the theory of games with strategic substitutes (GSS) are developed. These games possess extremal serially undominated strategies that provide bounds on predicted behavior and on limiting behavior of adaptive dynamics, similar to games with strategic complements (GSC). In parameterized GSS, monotone equilibrium selections are dynamically(More)
Recent developments in voting theory show that Condorcet profiles embedded in electorates are responsible for distortions in pairwise election tallies of any pair of candidates from a given set. Such distortions are the sole cause of conflicts between the various pairwise voting methods and of reversals of rankings, when candidates are dropped from or added(More)
The paper studies asset prices and capital accumulation in a monetary economy with non-diversifiable idiosyncratic risks. A government issued unbacked currency is introduced into agent's preferences in a dynamic GEI (General Equilibrium with Incomplete market) model with CARA preferences and normal disturbances. Closed form expressions for equilibrium(More)
Labor contracts are a way of sharing idiosyncratic production risks between entrepreneurs and workers, especially when such risks are too complex for contingent contracts to be written on them. So it is important to understand how equilibrium employment and wages are affected by risk related factors, such as risk aversion of entrepreneurs and workers, risk(More)
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