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

Table 1

State	Notation
PPP
PPI
PIP
IPP
PII
IPI
IIP
PPO
POP
OPP
POO
OPO
OOP
OOO
IIO
IOI
OII
IOO
OIO
OOI
III
PIO
POI
IPO
IOP
OPI
OIP