Zobrazeno 1 - 10
of 52
pro vyhledávání: '"Kevin Reffett"'
Publikováno v:
Theoretical Economics. 17:725-762
We present a new approach for studying equilibrium dynamics in a class of stochastic games with a continuum of players with private types and strategic complementarities. We introduce a suitable equilibrium concept, called Markov Stationary Distribut
Publikováno v:
Journal of Economic Theory. 204:105493
Publikováno v:
Journal of Economic Theory. 176:293-310
We give a set of sufficient conditions for uniqueness of a time-consistent stationary Markov consumption policy for a quasi-hyperbolic household under uncertainty. To the best of our knowledge, this uniqueness result is the first presented in the lit
Publikováno v:
Journal of Optimization Theory and Applications. 176:650-687
We show in this paper that the class of Lipschitz functions provides a suitable framework for the generalization of classical envelope theorems for a broad class of constrained programs relevant to economic models, in which nonconvexities play a key
We study the existence and computation of equilibrium in large games with strategic complementarities. Using monotone operators defined on the space of distributions partially ordered with respect to the first-order stochastic dominance, we prove exi
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::602df9736c1a7a9f4e32c7d885cf018e
http://sro.sussex.ac.uk/id/eprint/78641/6/Balbus2019_Article_AQualitativeTheoryOfLargeGames.pdf
http://sro.sussex.ac.uk/id/eprint/78641/6/Balbus2019_Article_AQualitativeTheoryOfLargeGames.pdf
Autor:
Kevin Reffett, Edward C. Prescott
Publikováno v:
Dynamic Games and Applications. 6:157-160
Many important questions in macroeconomics can be formulated as a dynamic game. For example, in dynamic general equilibrium models with public policy, where policymakers face a common agreed upon social objective, the optimal plans of the current gov
Publikováno v:
Journal of Mathematical Economics. 61:157-165
We develop a nonsmooth approach to envelope theorems applicable to a broad class of parameterized constrained nonlinear optimization problems that arise typically in economic applications with nonconvexities and/or nonsmooth objectives. Our methods e
Publikováno v:
International Journal of Economic Theory. 11:429-434
We show that the least fixed point of the Bellman operator in a certain set can be computed by value iteration whether or not the fixed point is the value function. As an application, we give a simpler proof of one of Kamihigashi's main results.
Publikováno v:
International Journal of Game Theory. 44:83-112
We study the question of existence and computation of time-consistent Markov policies of quasi-hyperbolic consumers under a stochastic transition technology in a general class of economies with multidimensional action spaces and uncountable state spa
Publikováno v:
Journal of Economic Theory. 150:815-840
We study a class of discounted innite horizon stochastic games with strategic complementarities. Using monotone operators on the space of values and strategies, we prove existence of a Stationary Markov Nash equilibrium under dierent set of assumptio