We study a class of discounted, infinite horizon stochastic games with public and private signals and strategic complementarities. Using monotone operators defined on the function space of values and strategies (equipped with a product order), we prove existence of a Stationary Markov Nash...

We prove the existence of a minimal state space recursive equilibrium (RE) for a broad class of infinite horizon dynamic general equilibrium models with positive externalities, dynamic complementarities, public policy, equilibrium indeterminacy and sunspots. These are new "multistep" monotone...

For an increasing upper order hemi-continuous correspondence F selfmapping sigma-complete lattice A, we first provide tight fixed-point bounds for sufficiently large iterations on F starting from any initial point a in A. We use this result for conducting iterative fixed-point comparative...

We prove existence of time consistent equilibria in a wide class of dynamic models with recursive payoffs and generalized discounting involving both behavioral and normative applications. Our generalized Bellman equation method identifies and separates both: recursive and strategic aspects of...

We provide sufficient conditions for existence and uniqueness of a monotone, Lipschitz continuous Markov stationary Nash equilibrium and implied invariant distribution in a class of intergenerational paternalistic altruism models with stochastic production. Our methods are constructive, and...

Recently Yang and Qi (2013) stated an interesting theorem on existence of complete lattice of equilibria in a particular class of large nonatomic supermodular games for general action and players spaces. Unfortunately, their result is incorrect. In this note, we detail the nature of the problem...

We introduce a new class of in nite horizon altruistic stochastic OLG models with capital and labor, but without commitment between the generations. Under mild regularity conditions, for economies with either bounded or unbounded state spaces, continuous monotone Markov perfect Nash equilibrium...