cases where additionally, some variables may be strategic complements. The main result here is that the equilibrium set in … such models is a non-empty, complete lattice, if, and only if, there is a unique equilibrium. Indeed, for a given parameter … techniques for exhibiting increasing equilibria or computing equilibria that use the largest or smallest equilibrium, or that use …

equilibrium model and rely on arguments from convex analysis. This methodology does not only give rise to a convergent iterative …

This paper investigates the learnability of an equilibrium where agents formulate their forecasts under adaptive … learning with heterogeneously misspecified econometric models; the equilibrium is called a Heterogeneous Misspecification … Equilibrium (HME). The paper finds that the learnability condition of the HME is equal to or less than the condition of the …

We present a new approach to studying equilibrium dynamics in a class of stochastic games with a continuum of players … with private types and strategic complementarities. We introduce a suitable equilibrium concept, called Markov Stationary … Nash Distributional Equilibrium (MSNDE), prove its existence, and determine comparative statics of equilibrium paths and …

Why is the rational expectations equilibrium locally indeterminate if the central bank raises the nominal interest rate …

rate) in which equilibrium selection is not conditioned on a sunspot. Instead, large enough shocks initiate unavoidable …

establishes the existence of sequential competitive equilibrium, generalized recursive equilibrium, recursive equilibrium with an … extended-state space, and characterizes several important properties of the equilibrium variables. The equilibrium process … shocks such as Huggett (1997)'s economy. However, the existence of recursive equilibrium with the natural minimal state space …

Nash equilibrium and implied invariant distribution in a class of intergenerational paternalistic altruism models with … tools for rigorous analysis of Markov stationary equilibrium on minimal state spaces for overlapping generations with …