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Using lattice programming and order theoretic fixpoint theory, we develop a new class of monotone iterative methods that provide a qualitative theory of Markovian equilibrium decision processes for a large class of infinite horizon economies with capital. The class of economies includes models...
Persistent link: https://www.econbiz.de/10005112462
Persistent link: https://www.econbiz.de/10005159851
We study a class of infinite horizon, discounted stochastic games with strategic complementarities. In our class of games, we prove the existence of a stationary Markov Nash equilibrium, as well as provide methods for constructing this least and greatest equilibrium via a simple successive...
Persistent link: https://www.econbiz.de/10011043005