Showing econ.THShow all
3 papers · 1 filter
econ.TH2025
Smart contracts and reaction-function games
Jens Gudmundsson, Jens Leth Hougaard
Blockchain-based smart contracts offer a new take on credible commitment, where players can commit to actions in reaction to actions of others. Such reaction-function games extend…
econ.TH2024
Managing cascading disruptions through optimal liability assignment
Jens Gudmundsson, Jens Leth Hougaard, Jay Sethuraman
Interconnected agents such as firms in a supply chain make simultaneous preparatory investments to increase chances of honouring their respective bilateral agreements. Failures cas…
econ.TH2023
Successive Incentives
Jens Gudmundsson, Jens Leth Hougaard, Juan D. Moreno-Ternero +1
We study the design of optimal incentives in sequential processes. To do so, we consider a basic and fundamental model in which an agent initiates a value-creating sequential proce…