Strategic Behavior of Firms in Incomplete Markets

在不完全市场的一般均衡模型中，企业的决策决定了消费在不同时间和不同状态下的可能转移。这赋予了公司市场支配力。然而，企业战略行为仍然是一般均衡理论中最大的研究空白之一。本项目的重点是拥有多种可销售合同的公司，例如金融中介机构或拥有不同形式融资的公司。其目的是在一般均衡框架下对这些公司之间的寡头垄断竞争进行建模。这包括对平衡的存在、性质和最优性的研究。具体来说，应该分析提供的合同的集合以及对个人决策的实际影响。除了消费决策，这包括战略性收购股份，以获得在公司的影响力。

In general equilibrium models with incomplete markets, decisions of firms determine the possible transfers of consumption across time and states of the world. This gives the firm market power. However, strategic behavior of firms is still one of the greatest research gaps in general equilibrium theory. The focus of this project is on firms with multiple marketable contracts, such as financial intermediaries or companies with different forms of finance. The aim is to model oligopolistic competition between such firms in a general equilibrium framework. This includes the study of existence, properties, and optimality of equilibrium. In particular, the set of offered contracts and the real effects on decisions of individuals shall be analyzed. Besides consumption decisions this includes strategic acquisition of shares to gain influence in the firm.