2011/11/30 by Pierre Lescanne, Lescanne, Pierre
Economics, Econometrics and Finance · #Computer Science and Game Theory (cs.GT) #Economic Theory and Institutions #Economic theories and models #FOS: Computer and information sciences
paper · pdf · doi:10.48550/arxiv.1111.7299
openalex publication_date 2011/11/30 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
As we show by using notions of equilibrium in infinite sequential games, crashes or financial escalations are rational for economic or environmental agents, who have a vision of an infinite world. This contradicts a picture of a self-regulating, wise and pacific economic world. In other words, in this context, equilibrium is not synonymous of stability. We try to draw, from this statement, methodological consequences and new ways of thinking, especially in economic game theory. Among those new paths, coinduction is the basis of our reasoning in infinite games.