Extortion as an Obstacle to Economic Growth : A Dynamic Game Analysis

@inproceedings{Dawid2000ExtortionAA,
  title={Extortion as an Obstacle to Economic Growth : A Dynamic Game Analysis},
  author={Herbert Dawid and Gustav Feichtinger and Antal Novak},
  year={2000}
}
In this paper we use a di erential game analysis to study the dynamic strategic interaction between a criminal gang extorting money from local shop-owners and the local police force. In particular, we are interested in characterizing which factors are important in determining whether the capital stock of local shop-owners keeps growing in spite of extortion or the criminal activity leads to a phase of stagnation of the local economy. A Markov perfect equilibrium of the game is characterized in… CONTINUE READING

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