Search Results - subject:"recursive methods"

Envy-Free and Efficient Minimal Rights: Recursive No-Envy

Dominguez, Diego; Nicolo, Antonio - In: Topics in Theoretical Economics 9 (2009) 1, pp. 1510-1510

In economics the main efficiency criterion is that of Pareto-optimality. For problems of distributing a social endowment a central notion of fairness is no-envy (each agent should receive a bundle at least as good, according to her own preferences, as any of the other agent's bundle). For most...

Persistent link: https://www.econbiz.de/10005046390

Incomplete-Market Equilibria Solved Recursively on an Event Tree

Dumas, Bernard J; Lyasoff, Andrew - C.E.P.R. Discussion Papers - 2009

We develop a method that allows one to compute incomplete-market equilibria routinely for Markovian equilibria (when they exist). The main difficulty to be overcome arises from the set of state variables. There are, of course, exogenous state variables driving the economy but, in an incomplete...

Persistent link: https://www.econbiz.de/10005124234

An exact solution on the ferromagnetic face-cubic spin model on a Bethe lattice

Ohanyan, V.R.; Ananikyan, L.N.; Ananikian, N.S. - In: Physica A: Statistical Mechanics and its Applications 377 (2007) 2, pp. 501-513

The lattice spin model with Q-component discrete spin variables restricted to have orientations orthogonal to the faces of Q-dimensional hypercube is considered on the Bethe lattice, the recursive graph which contains no cycles. The partition function of the model with dipole–dipole and...

Persistent link: https://www.econbiz.de/10011059847

Inequality Constraints in Recursive Economies

Pontus, Rendahl - Society for Computational Economics - SCE - 2006

Dynamic models with inequality constraints pose a challenging prob- lem for two major reasons: Dynamic Programming techniques often necessitate a non established differentiability of the value function, while Euler equation based techniques have problematic or unknown convergence properties....

Persistent link: https://www.econbiz.de/10005537417

Knowing the Forecasts of Others

Pearlman, Joseph G.; Sargent, Thomas J. - In: Review of Economic Dynamics 8 (2005) 2, pp. 480-497

We apply recursive methods to obtain a finite dimensional and recursive representation of an equilibrium of one of …

Persistent link: https://www.econbiz.de/10005069607

Multivariate Linear Rational Expectations Models: Characterisation of the Nature of the Solutions and Their Fully Recursive Computation.

Binder, M.; Pesaran, H. - Faculty of Economics, University of Cambridge - 1996

In this paper, we analyze a general multivariate linear rational expectations model.

Persistent link: https://www.econbiz.de/10005783737

Incomplete-Market Equilibria Solved Recursively on an Event Tree

DUMAS, Bernard; LYASOFF, Andrew

Persistent link: https://www.econbiz.de/10005534198

Recursive Macroeconomic Theory, 2nd Edition

Ljungqvist, Lars; Sargent, Thomas J. - The MIT Press

Recursive methods offer a powerful approach for characterizing and solving complicated problems in dynamic … macroeconomics. Recursive Macroeconomic Theory provides both an introduction to recursive methods and advanced material, mixing tools … topics that further illustrate the power and pervasiveness of recursive methods. Significant improvements to original …

Persistent link: https://www.econbiz.de/10004973106