Uniqueness of Markov equilibrium in stochastic OLG models with nonclassical production

C-Tier
Journal: Economics Letters
Year: 2014
Volume: 123
Issue: 2
Pages: 171-176

Score contribution per author:

1.005 = (α=2.01 / 1 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

A large class of stochastic OLG economies with nonclassical production is shown to possess a unique Markov Equilibrium (ME) which is also the unique sequential equilibrium. Additional properties such as monotonicity, continuity, and smoothness of the ME are also discussed.

Technical Details

RePEc Handle
repec:eee:ecolet:v:123:y:2014:i:2:p:171-176
Journal Field
General
Author Count
1
Added to Database
2026-02-02