21 Uncertainty , Monitoring Costs , and Private Banks ’ Lending Decisions in a Duopolistic Loan Market : A Game-Theoretic Real Options Approach

@inproceedings{Baba200121U,
  title={21 Uncertainty , Monitoring Costs , and Private Banks ’ Lending Decisions in a Duopolistic Loan Market : A Game-Theoretic Real Options Approach},
  author={N. Sayed Baba},
  year={2001}
}
This paper is a substantially revised version of a paper originally circulated as Bank of Japan’s IMES Discussion Paper Series No. 2000 E-20, which was presented at the conference of the Japanese Economic Association in September 2000. I thank Kazuo Ogawa (discussant) for valuable comments and suggestions. My special thanks also go to Roger Craine for his guidance on the real options approach, and Takeshi Amemiya, Yukinobu Kitamura, Kotaro Tsuru, and other seminar participants at the Bank of… CONTINUE READING

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