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In this paper, we provide an overview of an emerging class of monotone map methods in analyzing distorted equilibrium in dynamic economies. In particular, we focus on proving the existence and characterization of competitive equilibrium in non-optimal versions of the optimal growth models. We...
Persistent link: https://www.econbiz.de/10011327536
We develop an isotone recursive approach to the problem of existence, computation, and characterization of nonsymmetric locally Lipschitz continuous (and, therefore, Clarke-differentiable) Markovian equilibrium for a class of infinite horizon multiagent competitive equilibrium models with...
Persistent link: https://www.econbiz.de/10011343298
We develop an isotone recursive approach to the problem of existence, computation, and characterization of nonsymmetric locally Lipschitz continuous (and, therefore, Clarke-differentiable) Markovian equilibrium for a class of infinite horizon multiagent competitive equilibrium models with...
Persistent link: https://www.econbiz.de/10014067263
We develop an isotone recursive approach to the problem of existence, computation, and characterization of non-symmetric locally Lipschitz continuous (and, therefore, Clarke-differentible) Markovian equilibrium for a class of infinite horizon multiagent competitive equilibrium models with...
Persistent link: https://www.econbiz.de/10014067466
Using lattice programming and order theoretic fixpoint theory, we develop a powerful class of monotone iterative methods that provide a qualitative theory of Markovian equilibrium for a large class of infinite horizon economies with capital. The class of economies is large and includes...
Persistent link: https://www.econbiz.de/10014072102
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This paper uses lattice programming methods along with the extension of Tarski's fixed point theorem due to Veinott (1992) and Zhou (1994) to establish sufficient conditions for existence of sequential symmetric Markov equilibrium in a large class of dynamic games. Our method is constructive and...
Persistent link: https://www.econbiz.de/10014067464