Half-baked thoughts on money, finance, and economics.
Tuesday, April 13, 2010
institutions and folk theorems
I think a lot of institutions are responses to the folk theorem; a repeated game admits a large number of possible equilibria, for various senses of the term "equilibrium", and institutions are a way to coordinate on one of them.
My name is Dean Jens. I was born and raised in Iowa, though not consecutively. I have degrees in math, physics, and economics, worked as a computer programmer and pricing credit derivatives, and am working on a Ph.D. dissertation in economics. I have been heavily involved in Sacred Harp singing and contradancing, and have run two marathons. I am married (since 2010) and a father (since 2011).