3 papers
econ.TH2026
Efficient liability assignment under shock propagation
Jens Gudmundsson, Jens Leth Hougaard, Kohmei Makihara +1
We study a model in which shocks propagate along a path chosen by agents embedded in a network. When a shock hits an agent, the affected agent cancels one of her outgoing edges. Th…
econ.TH2026
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…