RKM- Nash Base Equilibrium and Inflation Driven by Equity Buybacks
{"\\"Nash":[0],"Equilibrium":[1],"and":[2,21,48,95,114,137],"Inflation":[3],"Driven":[4],"by":[5],"Equity":[6],"Buybacks\\"":[7],"presents":[8],"a":[9,89,101,122,125],"game-theoretic":[10],"model":[11,75],"in":[12],"which":[13,92],"large":[14],"firms/financial":[15],"institutions":[16],"choose":[17],"between":[18],"productive":[19],"investment":[20],"equity":[22],"buybacks.":[23],"It":[24],"shows":[25],"that":[26],"under":[27],"Nash":[28],"equilibrium,":[29],"buybacks":[30,113],"become":[31],"the":[32,86,119,134],"rational":[33,108],"strategy":[34],"for":[35,109,118],"every":[36],"firm":[37,111],"—":[38,81,124],"since":[39],"they":[40],"push":[41],"up":[42],"stock":[43],"prices,":[44],"expand":[45],"collateral":[46,66],"value,":[47],"increase":[49],"access":[50],"to":[51,100],"leverage.":[52],"This":[53],"drives":[54],"asset-based":[55],"inflation":[56],"(rather":[57],"than":[58],"wage-based":[59],"inflation):":[60],"rising":[61],"asset":[62],"prices":[63],"→":[64,67,71],"more":[65,68],"credit":[69],"creation":[70],"monetary":[72],"expansion.":[73],"The":[74],"introduces":[76],"an":[77],"\\"amplification":[78],"factor\\"":[79],"(Λ)":[80],"when":[82],"it":[83],"exceeds":[84],"1,":[85],"system":[87,120],"becomes":[88],"self-reinforcing":[90],"bubble,":[91],"(using":[93],"logistic-growth":[94],"phase-transition":[96],"equations)":[97],"eventually":[98],"leads":[99],"finite-time":[102],"price":[103],"collapse.":[104],"Conclusion:":[105],"what's":[106],"individually":[107],"each":[110],"(maximizing":[112],"leverage)":[115],"is":[116],"destabilizing":[117],"as":[121],"whole":[123],"classic":[126],"coordination":[127],"failure,":[128],"where":[129],"capital":[130],"flows":[131],"away":[132],"from":[133],"real":[135],"economy":[136],"into":[138],"financial":[139],"engineering.":[140]}
Authors
- Małek Rafal Krytsian
Publication Details
- Journal
- Zenodo (CERN European Organization for Nuclear Research)
- Published
- 2026-09-09
- DOI
- https://doi.org/10.5281/zenodo.22672973
- Primary Topic
- Economic theories and models
- Type
- article
- Field-Weighted Citation Impact
- 0.00