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Monetary equilibrium and the differentiability of the value function

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Monetary equilibrium and the differentiability of the value function

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Prospect-theory's diminishing sensitivity versus economics' intrinsic utility of money : how the introduction of the euro can be used to disentangle the two emirically

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Monetary Equilibrium and the Differentiability of the Value Function

Aliprantis, Charalambos D.; Camera, Gabriele; Ruscitti, … - 2015

In this study we offer a new approach to proving the differentiability of the value function, which complements and extends the literature on dynamic programming. This result is then applied to the analysis of equilibrium in the recent class of monetary economies developed in [14]. For this type...

Persistent link: https://www.econbiz.de/10014139532