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Time consistent equilibria in dynamic models with recursive payoffs and behavioral discounting
(2020-11)
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 applica-tions. Our generalized Bellman equation ...
Markov distributional equilibrium dynamics in games with complementarities and no aggregate risk
(2020-07)
We present a new approach for 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 ...