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Local versions of Tarski’s theorem for correspondences
(2023-03)
For a strong set order increasing (resp., strongly monotone) upper order hemicontinuous correspondence mapping a complete lattice A into itself (resp., a sigma-complete lattice into itself), we provide conditions for tight ...
On uniqueness of time-consistent Markov policies for quasi-hyperbolic consumers under uncertainty
(2016-11)
We give a set of sufficient conditions for uniqueness of a time-consistent Markov stationary consumption policy for a quasi-hyperbolic household under uncertainty. To the best of our knowledge, this uniqueness result is ...
Iterative Monotone Comparative Statics
(2022-02)
For an increasing upper order hemi-continuous correspondence F selfmapping sigma-complete lattice A, we first provide tight fixed-point bounds for sufficiently large iterations on F starting from any initial point a in A. ...
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 ...