Based on an order-theoretic approach, we derive sufficient conditions for the existence, characterization, and computation of Markovian equilibrium decision processes and stationary Markov equilibrium on minimal state spaces for a large class of stochastic overlapping generations models. In...

In economic models in which agents are asymmetrically informed about the structural parameters of the economy the acquisition or manipulation of information plays a crucial role. The incentive to affect the flow of information is especially important in models in which choice variables, and...

We introduce learning in a Brock-Mirman environment and study the effect of risk generated by the planner's econometric activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural uncertainty and uncertainty from the anticipation...