Optimal Payments to Connected Depositors in Turbulent Times: A Markov Chain Approach

<div>The dependence of <svg height="16.0451pt" id="M251" style="vertical-align:-3.908299pt" version="1.1" viewbox="-0.0498162 -12.1368 18.9716 16.0451" width="18.9716pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M445 282C445 390 384 448 297 448C266 448 231 437 189 418C96 376 23 279 23 151C23 65 66 -12 169 -12C233 -12 294 18 337 53C411 113 445 201 445 282ZM355 280C355 161 302 62 243 36C231 31 219 30 207 30C147 30 111 78 111 154C111 302 180 380 220 399C231 404 246 407 264 407C311 407 355 367 355 280Z" id="g113-112"></path></g><g transform="matrix(.0091,0,0,-0.0091,6.084,-6.671)"><path d="M262 451C169 451 38 375 38 210C38 98 121 -12 261 -12C360 -12 481 64 481 227C481 351 386 451 262 451ZM249 414C337 414 385 320 385 204C385 70 333 25 272 25C189 25 134 117 134 241C134 355 189 414 249 414Z" id="g58-109"></path></g><g transform="matrix(.0091,0,0,-0.0091,10.707,-6.671)"><path d="M173 382V461C125 442 68 425 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Complexity

fig9

Figure 9

Figure 9: Optimal Payments to Connected Depositors in Turbulent Times: A Markov Chain Approach 