This paper examines the dynamic behavior of optimal consumption and investment policies in the aggregate stochastic growth model when utility depends on both consumption and the stock level. Such models arise in the study of renewable resources, monetary growth, and growth with public capital....

I study the question on the convexity of the value function and Blackwell's (1951) Theorem and relate this to the uniqueness of optimal policies. The main results will conclude that strict convexity and a strict inequality in Blackwell's Theorem will hold if and only if from different priors...

Consider an infinitely repeated normal form game where each player is characterized by a "type" which may be unknown to the other players of the game. Impose only two conditions on the behavior of the players. First, impose the Savage (1954) axioms; i.e., each player has some beliefs about the...

Consider an infinitely repeated game where each player is characterized by a "type" which may be unknown to the other players in the game. Suppose further that each player's belief about others is independent of that player's type. Impose an absolute continuity condition on the ex ante beliefs...