Strategy8Handout - 9/24/2008 Upheaval in Financial Markets...

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9/24/2008 1 Upheaval in Financial Markets A panel of distinguished alumni from the Department of Economics will discuss the ongoing crisis in financial markets. Speakers include: David Berson MPP ‘79; PhD ‘82 econ Peter Borish, AB ‘81; MPP ’82 Senior Vice President, Chief Economist and Strategist Chairman/CEO PMI Group, Inc. . Computer Trading Corp. Peter Hooper, AM ‘71 econ; PhD ‘75 econ Greg Pearlman, AB ‘83 econ Chief Economist Managing Director Deutsche Bank Securities Bank of America Securities LLC 1 p.m. Presentation 2:30 p.m. Reception Friday, October 3 140 Lorch Hall Example – The Ultimatum Game ± Two Players: Sender and Receiver ± Sender is given 10 units of a continuously divisible notional “cake” ± Sender can send x Œ [0,10] to the Receiver ± Receiver can Accept or Reject ± If Receiver chooses Reject ± Payoff to Sender is 0, Payoff to Receiver is 0 ± If Receiver chooses Accept ± Payoff to Sender is (10-x), to Receiver x Rollback with Continuum Strategies
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Strategy8Handout - 9/24/2008 Upheaval in Financial Markets...

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